Reinsurance News
Willis Towers Watson news
Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.
GRP to acquire WTW’s Northern Ireland portfolio
26th July 2021
Global Risk Partners (GRP) has entered into an agreement with Willis Towers Watson (WTW) to acquire the latter's commercial risk and broking business in Northern Ireland. On completion, the £57 million gross written premium (GWP) portfolio will be integrated into ABL Group, GRP’s Northern Ireland brokerage, with ABL’s CEO Maurice Boyd ... Read the full article
Aon – Willis and US DoJ may be able to settle early on three counts
21st July 2021
According to court documents, it appears that Aon, its acquisition target Willis Towers Watson (WTW) and the US Department of Justice (US DoJ) are hoping to reach a settlement quickly on counts related to three of the market segments where the mega-merger was deemed potentially anti-competitive. It's news that could signal ... Read the full article
Low claims levels keep downward pressure on UK motor premiums: WTW
21st July 2021
Low claims levels of claims over the past year due to COVID lockdowns have resulted in a third consecutive quarter of falling car insurance premiums in the UK, according to the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson (WTW). The index found that comprehensive car insurance ... Read the full article
Judge accuses US DoJ of wasting time in Aon – Willis trial
16th July 2021
In a hearing yesterday, the US Department of Justice agreed to adjust its timeline to deliver important information related to its earlier investigation of the antitrust case to the courts much faster than previously anticipated. These materials, part of the US Department of Justice's research before the court case even began, ... Read the full article
Aon / Willis Towers Watson still debating dates, key pre-trial points with US DoJ
14th July 2021
The debate over the scheduling of key dates in the legal process continues in the build up to Aon and Willis Towers Watson's (WTW) antitrust trial with the US Department of Justice (DoJ). Late in June, after what we assume was a protracted period of negotiation, the US department of Justice ... Read the full article
KBW explores potential consequences of Aon / WTW deal break
12th July 2021
Analysts at KBW have modelled the potential impact on Aon and Willis Towers Watson (WTW) if their pending merger deal were to collapse. The firm believes that the brokers will ultimately end up selling more businesses to satisfy ongoing regulatory concerns, but the deal is currently facing significant roadblocks, including Read the full article
Aon set for further WTW divestments to appease NZ regulators
12th July 2021
Re/insurance broker Aon has been instructed by New Zealand regulators to make further divestments if its proposed mega-merger with rival player Willis Towers Watson is to be approved. Aon was cleared to move ahead with its acquisition of WTW by the European Commission last week, in an agreement that was ... Read the full article
EC approval a “major step” towards completion: Aon & WTW
9th July 2021
A statement from Aon and Willis Towers Watson (WTW) describes today’s regulatory approval from the European Commission (EC) as a “major step” towards the completion of the brokers’ pending merger. The approval was described as conditional on full compliance with a substantial set of commitments offered by Aon, including the ... Read the full article
Aon / WTW merger cleared by European Commission
9th July 2021
The ongoing merger between re/insurance broking giants Aon and Willis Towers Watson has cleared a significant hurdle today with breaking news of the deal’s approval by the European Commission. The approval is described as conditional on full compliance with a substantial set of commitments offered by Aon, including the divestment of ... Read the full article
Aon / WTW US antitrust trial to begin in November, possibly later
7th July 2021
A federal judge has told global brokers Aon and Willis Towers Watson (WTW) that their trial versus the Antitrust Division of the U.S. Department of Justice (DoJ) is unable to commence before November and could be delayed further owing to a backlog of cases. After the DoJ proposed a trial ... Read the full article
Aon & Willis Towers Watson call for ‘earliest possible trial date’
6th July 2021
Global insurance and reinsurance brokers Aon and Willis Towers Watson (WTW), have emphasised the pressing need for the "earliest possible trial date" for their pending case against the Antitrust Division of the U.S. Department of Justice (DoJ), which seeks to block their $30 billion combination. After a filing an antitrust ... Read the full article
New Zealand again extends Aon / WTW merger decision date
2nd July 2021
The New Zealand (NZ) Commerce Commission's ongoing investigation into the proposed $30 billion combination of Aon and Willis Towers Watson (WTW) has been extended once more, with a conclusion now expected by August 20th, 2021. This is the second time New Zealand’s Commerce Commission has extended its deadline after launching an ... Read the full article
DoJ’s Feb 2022 trial date ‘untenable’ and prolongs uncertainty, says Aon/WTW
30th June 2021
Lawyers of global re/insurance brokers Aon and Willis Towers Watson (WTW) have described the US Department of Justice's (DoJ) proposal that its trial seeking to block their merger not commence until February of next year as "untenable". In an effort to stop the creation of what it calls a "broking behemoth", ... Read the full article
South Africa asks for further divestments in Aon / WTW remedy package
29th June 2021
The Competition Commission of South Africa (CCSA) has required that brokers Aon and Willis Towers Watson (WTW) make a number of significant divestments to remedy competition concerns before their pending merger can be approved in the country. The regulator has asked that the brokers divest WTW’s entire global reinsurance broking business ... Read the full article
WTW begins digitally trading complex risks at Lloyd’s via Brit’s Ki
29th June 2021
Re/insurance broker Willis Towers Watson has started live trading complex commercial risks after integrating its broking platform with Ki. Ki was launched by Brit in collaboration with Google Cloud and its algorithm is able to evaluate the marketplace’s policies and automatically quote for business. The integration of its algorithmic underwriting with WTW’s ... Read the full article