British insurance firm Willis Towers Watson (WTW) has acquired aviation industry specialist Aerosure for an undisclosed sum.

The acquired firm will become part of WTW global aerospace business and offer a suite of aviation insurance broking solutions.

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As per the terms of the agreement, Aerosure managing director Greg Rector will join WTW as managing director of its Australasia aviation division.

Sydney-based Aerosure caters to the insurance and risk needs of the aviation industry in Australia, New Zealand, and the Pacific Island region.

The acquisition, which is effective immediately, is aimed at expanding WTW’s aerospace business and enhancing its client offering locally and globally.

WTW global Aerospace CEO John Rooley said: “The combination of our teams will strengthen our value proposition for our clients as a world-leading insurance broker and trusted risk adviser in the aerospace industry, providing them with a wide and deep range of solutions.”

WTW head of corporate risk & broking, Asia and Australasia, and head of Australasia Simon Weaver said: “Aerosure is a leading aviation industry specialist with a large book of aviation-focused industry clients, including airlines, airports and air traffic control, committed to the long-term position of its clients.”

Rector said: “We are delighted to take our partnership with WTW to the next level to provide added value to all of our aviation-focused industry clients. This partnership has proven to be an industry-leading proposition for all of our clients and we are extremely excited to be cementing our relationship for the benefit of all our clients across Australia, New Zealand and the Pacific Islands.”