SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF JANUARY 2003
WILLIS GROUP HOLDINGS LIMITED
(Exact name of Registrant as specified in its charter)
Ten Trinity Square
London EC3P 3AX, England
(Address of principal executive offices)
(Indicate by check mark whether the registrant files or
will file annual reports under cover of Form 20-F of Form 40-F.)
Form 20-F __X__ Form 40-F ___
(Indicate by check mark whether the registrant by
furnishing the information contained in this Form is also thereby
furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.)
Yes ___ No __X__
(If "Yes" is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b):82)
Contact:
News Release Investors: Kerry K. Calaiaro
+1 212 837-0880
Email: calaiaro_ke@willis.com
Media: Nicholas Jones
+1 44 20 7488-8190
Email: jonesnr@willis.com
Dan Prince
+1 212 837-0806
Email: prince_da@willis.com
Peter McNally for Cyberstarts
+1 404 267-5182
Email: pmcnally@cyberstarts.com
WILLIS ACQUIRES SUNARO, STRENGTHENING
EMPLOYEE BENEFITS PRACTICE
NEW YORK--(BUSINESS WIRE)--Jan. 2, 2003--Willis Group Holdings (NYSE: WSH), the
global insurance broker, today announces the asset acquisition of Sunaro Inc.,
an employee benefits technology solutions company which delivers web-based
benefits communication, enrollment, and administration services. Willis'
integration of Sunaro's technology solutions into all its employee benefits
client offerings will be a key marketplace differentiator as more and more
benefits functions continue to migrate onto the web. Terms of the transaction
were not disclosed.
Over the last few years, as human resource departments have been pushed and
tested to do more with less, an increasing number of benefits systems have
migrated onto the Internet. Mid-sized companies have been underserved because
available benefit systems are either too expensive to implement, or too complex
for their needs. Sunaro has built leading edge HR/benefits software with the
mid-sized company in mind, designed to be fast, inexpensive and simple to use
for human resources professionals and employees.
Using Sunaro's solutions, HR and financial professionals seeking low cost, high
quality web-based communication and administration tools will significantly
reduce time and expenses associated with manual benefits processes. Further, the
interactive sites, customized by client, provide employees valuable information
through a user-friendly interface.
"Sunaro represents our serious commitment to grow our Employee Benefits Practice
Group," said Joe Plumeri, Chairman and Chief Executive Officer of Willis. "This
acquisition is consistent with our overall strategy of building key practice
groups which we have identified as having strong growth potential. Further, it
fosters the Willis model of building close client relationships."
"Initial web-based benefits offerings were little more than electronic versions
of cumbersome handbooks and a myriad of forms," said Rick Elliott Willis'
Employee Benefits Practice Group Leader. "Today, Sunaro is leading the next
phase of electronic, interactive employee benefits systems with platforms
customized to meet mid-sized companies' particular needs." Elliott continued,
"Our research indicates that employee benefits clients seek our service in three
broad areas - controlling costs, reducing their workload and educating and
training their employees. Bringing Sunaro's solutions to our clients strengthens
our capabilities in each of these three key areas."
"This is a positive transaction for us in all respects," said Peter McNally,
Sunaro's CEO and Managing Director at Cyberstarts Inc., parent company of
Sunaro. "Willis is getting a great platform, and the people who built it; and
our people are going to a great company in Willis. Cyberstarts will narrow its
focus to payments related businesses, and build on our three remaining core
businesses, all of which are now profitable and growing."
Willis Group Holdings is a leading global insurance broker, developing and
delivering professional insurance, reinsurance, risk management, financial and
human resource consulting and actuarial services to corporations, public
entities and institutions around the world. With over 300 offices world-wide,
Willis' global team of 13,000 Associates serves clients in 180 countries. Willis
has particular expertise in serving the needs of clients in such major
industries as construction, aerospace, marine and energy. In June 2001, Willis
returned to public ownership and is listed on the New York Stock Exchange.
Additional information on Willis may be found on its web site WWW.WILLIS.COM.
Sunaro is an employee benefits solutions company headquartered in Atlanta,
Georgia. Sunaro delivers a full spectrum of employee benefits solutions that
include communication, enrollment, and administration. These solutions are
delivered via the Internet and traditional channels such as paper and call
centers.
Cyberstarts is a financial services technology holding company based in Atlanta,
Georgia. Cyberstarts' holdings include FIWare, a payments management service
provider, eDebt, a receivables management company, and Bridium, a claims
management service provider. For more information on Cyberstarts, please go to
www.cyberstarts.com.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
WILLIS GROUP HOLDINGS LIMITED
By: ___/s/ Mary E. Caiazzo_________
Mary E. Caiazzo
Assistant General Counsel
Date: JANUARY 2, 2003