WTW purchases California trade-credit brokerage

Willis Towers Watson PLC said Thursday it acquired CFS International Inc., an Irvine, California-based trade-credit insurance brokerage.

Terms of the transaction were not disclosed.

Founded in 1990, CFS provides tailored trade credit insurance and trade finance programs to global firms.

It follows WTW’s recent acquisition of Global Commercial Credit LLC, a Bingham Farms, Michigan-based brokerage specializing in trade credit, political risk and credit information services.

WTW is the fourth-largest broker of U.S. business, according to Business Insurance’s most recent ranking.