Willis Towers Watson is expanding its climate and resilience hub with the acquisition of Acclimatise, a climate change adaptation advisory and analytics firm.
The consultant's climate and resilience hub helps clients to address challenges associated with climate change and other environmental, social and governance issues. The deal will enhance the company's leadership in physical climate risk, a news release said.
Terms of the deal were not disclosed and the deal has already closed, a WTW spokesman said.
Acclimatise is based in the U.K. but has teams in France, the U.S. and India. It was founded in 2004 and has developed a platform to bring together and apply climate model and earth-observation data to support risk analytics and online applications, the release said.
Combining Acclimatise's expertise with WTW's experience in natural catastrophe modeling, risk management, reinsurance and investment markets will "help clients manage climate exposures, seize adaptation opportunities and build more resilient societies and economies," Rowan Douglas, head of Willis Towers Watson's climate and resilience hub, said in the release.
WTW and Acclimatise previously collaborated via the Willis Research Network, which aims to improve the understanding and quantification of risk.
"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," Mr. Douglas said.
John Firth, CEO and co-founder, and Richenda Connell, chief technology officer and co-founder, will continue to lead the Acclimatise team, reporting to Mr. Douglas, the spokesman said.