NETHERLANDS – Watson Wyatt is to take over Mercer Management Consulting’s 22-strong Mercer Oliver Wyman actuarial consulting business in the Netherlands.

Financial terms were not disclosed.

The two firms have signed a letter of interest relating to the potential transfer of the business to Watson Wyatt Insurance Consulting. The transfer is expected to be completed on October 1.

Watson said the move gives it a significant presence in the Dutch insurance market, where it already has a team of 14 consultants.

"Bringing in this successful actuarial consulting business positions Watson Wyatt as the leading and independent player in the Netherlands," said Philip Brook, global head of insurance and financial services consulting at Watson Wyatt.

"This is an exciting opportunity for us as it further enhances our ability to offer seamless actuarial consulting services in the Netherlands and around the world to multinational insurance companies."