Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced the completion of its acquisition of DaVinci Consulting Group, a boutique actuarial consulting firm that specializes in the long-term care insurance market. The company had previously announced its intent to acquire the DaVinci business on October 15, 2012.
“DaVinci’s proven track record with the long-term care insurance market and risk management strategies will enhance our overall long-term care insurance services,” said Craig Buck, managing director of the Life Insurance Consulting practice at Towers Watson. “We’re excited to welcome the DaVinci team, with its extraordinary analytical depth, to Towers Watson.”
DaVinci’s principals and consulting staff have joined the Life practice within Towers Watson and will be based in the Philadelphia area. Vince Bodnar, principal and co-founder of DaVinci, will lead the long-term care business. The deal is not expected to materially change Towers Watson’s financial results for the fiscal year.
About Towers WatsonTowers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at towerswatson.com. Forward-Looking Statements This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements and other forward-looking statements in this document by words such as “may,” “will,” “would,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “continue,” or similar words, expressions or the negative of such terms or other comparable terminology. Such statements are based upon the current beliefs and expectations of Towers Watson's management, and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.