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Watson Wyatt expands in India
Watson Wyatt has acquired
Calcutta-based actuarial services firm
MC Chakravarti and Associates, a
consulting firm that works primarily in
the area of actuarial advice. This
acquisition will help both companies
provide a larger basket of services and
improve on their current expertise.
Their combined efforts will help serve
global clients with practices in India.
Said Shailesh Shah, Watson Wyatt's
managing consultant in India: "As India
deregulates the insurance industry and
reviews employee benefits legislation, it
is becoming increasingly important to
provide advice that combines expertise
in Indian employee benefits with wider
experience of global best practices".
MC Chakravarti and Associates
provides five core services: Valuing
funds for clients, administering them,
investment, valuing the liabilities that
companies incur and insurance
consulting. The firm services around
400 clients in India, Sri Lanka, Bhutan
and Mauritius.
With offices in Delhi, Calcutta, and
Mumbai, they can provide clients with
a significant local presence.
Mukul C Chakravarti, one of the oldest
and most respected practicing actuary,
will be chairman of the firm.
Bob Charles, a fellow of the UK's
Institute of Actuaries will join from
Watson Wyatt, London as a Benefits
Practice Leader. He will bring his
experience of Watson Wyatt's
consulting practice to the new services
in India.
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