GERMANY - Watson Wyatt is establishing an insurance and financial services consulting team based in Munich.
The new team is part of Watson Wyatt's wider expansion plans in Germany, where the firm had launched a new actuarial and benefits consulting business in Munich, Watson Wyatt Deutschland, in October.
The new consulting team will provide insurance and financial services consulting services to German banks, captive insurers, fund managers, government and quasi-government bodies, life/general/health insurance companies, insurance industry associations, insurance regulators, intermediaries and re-insurance companies.
Philip Brook (pictured), global head of insurance and financial services consulting at Watson Wyatt said: The German insurance market is large and undergoing significant changes. It offers us exciting opportunities to work with both local insurance and financial services companies as well as our existing multinational clients.
Matthias Bonikowski, who joins Watson Wyatt this month from COR, a German actuarial and IT company, will lead the new team.
Brook added: We have collaborated with Bonikowski on a number of recent projects and we are confident he is the ideal person to lead this strategic development of Watson Wyatt's services in the German market.
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