Acclimatise has been acquired by leading global advisory, broking and solutions company, Willis Towers Watson. The move sees the Acclimatise team combine with Willis Towers Watson’s Climate and Resilience Hub (CRH), creating a market-leading centre of climate adaptation expertise with over fifty technical staff. The combination significantly expands the capacity of the CRH to meet growing demands for climate resilience services.
The CRH is the focal point for WTW’s work on climate risk and resilience, helping its clients to address the challenges associated with climate change across physical, transition and legal liability risks. Acclimatise and the CRH have complementary capabilities in financial services, climate risk and vulnerability assessment, resilience planning and climate data analysis and risk modelling.
“Climate change risk is fast becoming a central part of government, corporate and financial decision making and planning. Meeting growing client demand will require increasingly sophisticated approaches to climate risk assessment and management.” Said Acclimatise CEO, John Firth. “This is why I’m hugely excited by the potential that Willis Towers Watsons’ acquisition of Acclimatise brings. I am very proud of Acclimatise’s achievements and our staff over its sixteen-year history – from kitchen table to a market leader – and am confident that combining with the Climate and Resilience Hub is the right move to ensure we can amplify the impact of our work.”
Welcoming the deal, Rowan Douglas, Head of the CRH, said, “By combining Acclimatise’s market-leading climate modelling and adaptation capabilities with Willis Towers Watsons’s deep experience in natural catastrophe modelling, risk management, re/insurance and investment markets we have a unique range of expertise to help clients manage climate exposures, seize adaptation opportunities and build more resilient societies and economies.”
The two companies have collaborated in the past and have enjoyed a strong working relationship. “We have long admired Acclimatise and what John Firth and Dr Richenda Connell have built as visionary leaders since 2004.” Said Douglas, “Our earlier collaboration via the Willis Research Network illustrated a shared market ambition, culture and complementary experience and relationships. This feels like a very natural step for both teams. We are all excited about meeting the resilience challenges for corporates, Governments and financial institutions in the years ahead.”
The deal comes at a time where there is significant momentum behind climate risk services for corporates, Governments and the financial services sector. In recent years, WTW has increasingly mainstreamed climate risk across its business segments. John Haley, CEO Willis Towers Watson, said that the acquisition “is very much in line with our ambition to help clients navigate an increasingly complex world and to achieve climate resilience through the provision of market-leading solutions. Acclimatise’s capabilities and proven success in the area of climate risk, provide significant opportunities for us going forward. I am excited about what this means for Willis Towers Watson.”