Willis Group Holdings Ltd. said it has completed its acquisitionof Richmond, Va.-based Hilb Rogal & Hobbs Co. for $2.1 billion,increasing the insurance brokerage firm's annual revenues by anestimated 24 percent.

London-based Willis said that with the completion of theagreement Willis North America will be renamed Willis HRH. The dealincreases Willis' North American presence from 70 locations to 210and strengthens the firm's position in a number of markets, thebroker said.

Willis said its revenues, on a pro forma basis, increased from$2.6 billion in 2007 to $3.4 billion, with North America revenuesgoing from 30 percent of the company's total to 45 percent.Employee benefits also got a boost, rising from 10 percent ofrevenues in 2007 to 13 percent.

The renamed brokerage unit will be headed by Don Bailey, who wasnamed chairman and chief executive officer of Willis HRH. MikeCrowley was named president, and Mell Vaughan named vice chairmanof Willis Group Holdings. Both Mr. Crowley and Mr. Vaughan werechief executives for HRH.

“Our combination with HRH transforms our North Americanoperations into a larger, stronger and more diverse business withgreater growth potential than ever before,” Joe Plumeri, chairmanand chief executive officer of Willis Group Holdings, said in astatement.

Mr. Plumeri continued, “We're adding some of the best talentthis industry has to offer, expanding our local market presence,strengthening our position with middle-market clients, and growingsignificantly in key practice areas that offer tremendous potentialfor the future. We've already made great progress with our 'Shapingour Future' growth strategy and the addition of HRH will acceleratethat performance momentum for the benefit of our company and ourshareholders.”

“This combination is a great strategic fit, and it puts us inthe perfect position to serve our clients like never before withthe best resources and professional talent in the industry,” saidMr. Bailey.

“We expect the integration of these two businesses will proceedvery smoothly, and it will be a seamless transition for ourclients,” said Mr. Crowley.