Global broking and advisory company WTW has acquired credit insurance operator CFS International for an undisclosed sum. 

The company will be integrated into Willis, a WTW business.  

This purchase is part of WTW’s strategy to invest in trade credit business and increase its footprint on the US West Coast.  

Set up in 1990, CFS focuses on offering trade credit insurance coverage to global companies. 

WTW Risk & Broking business head of corporate mergers & acquisitions Scott Burnett said: “The acquisition of CFS is our second in as many months. The first, Global Commercial Credit, expanded our trade credit footprint in the Midwest, while CFS enhances our coverage and service for clients and prospects on the West Coast.  

“CFS aligns with our focus on specialised industries, expanding our resources and services nationwide. This deal strengthens our position as a leading trade credit provider and demonstrates WTW’s strategic investments to optimise our global portfolio and pursue high-growth broking businesses.”   

CFS president Ralph Clumeck stated: “This world-class organisation is a perfect strategic fit for our clients as the transition will provide them with broader access to the markets, a wider range of products and solutions, and the strength of one of the industry’s most respected names.  

“As I step away from the business, I do so with confidence and gratitude, knowing that our clients are in excellent hands. Bridget Clumeck is excited to lead this next chapter, and she will continue to provide the exceptional service and support our clients have come to expect.”   

This move follows WTW’s acquisition of Michigan-based Global Commercial Credit (GCC) last month, which is also integrated into Willis.  

GCC also offers trade credit, along with political risk insurance and credit information services.