WTW Expands Trade Credit Capabilities with GCC Acquisition

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WTW Acquires Global Commercial Credit to Enhance Trade Credit Solutions

Global advisory, broking, and solutions leader WTW has strategically acquired Global Commercial Credit, LLC (GCC), integrating it into its Willis business. This acquisition significantly strengthens WTW’s offerings in the realms of trade credit and political risk insurance, with a particular focus on expanding its footprint in North America.

The acquisition forms a crucial part of WTW’s overarching strategy to broaden its reach in specialized, high-growth sectors underpinned by technical expertise and an industry-centric approach. Scott Burnett, Head of Corporate Mergers & Acquisitions for WTW’s Risk & Broking division, emphasized, “This acquisition represents a strategic investment by WTW to optimize our portfolio, targeting scaled and high-growth broking opportunities. It propels our specialization strategy across selected industries and amplifies our capabilities across the insurance value chain.”

With the inclusion of GCC, WTW enhances its scale and growth trajectory within the credit and political risk sector in North America. The acquisition also diversifies WTW’s client demographic across various industries, fortifies nationwide sales capabilities, and paves the way for introducing complementary products to WTW’s global clientele. As a result of this deal, Willis is set to emerge as one of North America’s leading trade credit insurance specialists, boasting extensive expertise in financial institutions and industry specifics.

GCC, established in Michigan in 1995, has centered its operations on crafting bespoke credit risk management solutions. It has built a robust foundation in specialized offerings, such as credit information services and trade credit and political risk insurance. Additionally, WTW will acquire ProfitGuard as part of the transaction, a specialized credit risk management service that complements trade credit insurance and adds value to Willis’ global clients.

Evan Freely, WTW’s Global Head of Financial Solutions, remarked, “GCC is a highly specialized entity with substantial market penetration in trade credit across the nation. The company’s strategy, rooted in technical and industry-specific knowledge, aligns seamlessly with WTW’s business objectives. This is a thrilling development that will expedite our growth and broaden our presence in strategic industry sectors. I am thrilled to welcome Victor and the GCC team to WTW and anticipate the positive impact their expertise will bring.”

Victor Sandy, President and CEO of GCC, expressed enthusiasm, “Aligning with WTW presents an exciting opportunity to extend our time-tested, integrated credit risk management solutions to a wider market. Effective credit risk management is crucial for the success of any company. In today’s volatile environment, more businesses are recognizing the importance of timely and reliable credit information and the capability to hedge open credit exposure. Together, WTW and GCC are uniquely positioned to deliver custom-tailored solutions to the US marketplace, and we look forward to significant growth.”