Global insurance and reinsurance broker Aon is reportedly in talks to acquire rival broker Willis Towers Watson (WTW), according to a Bloomberg report, which cites people familiar with the matter.
Bloomberg reports that Aon is considering the purchase of WTW, and is preparing to submit an offer in the coming weeks.
According to people familiar with the matter, the two companies have held initial talks, although nothing is concrete and no final decision has been made, adding that Aon could decide not to make a firm offer.
The combination of Aon and WTW would result in a very large and powerful global insurance and reinsurance brokerage firm, potentially large enough to rival Marsh & McLennan, which recently acquired broker JLT Group, and which is the largest broker in terms of revenue, according to Bloomberg.
According to the Bloomberg report, WTW shares jumped this morning in New York to their highest ever price, valuing the firm at around $24 billion.