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Willis Towers Watson news

Willis Towers Watson news related to the global insurance and reinsurance broker and consultancy.

Aon / WTW merger needs further review, says Singapore

29th June 2021

After completing its initial review of the proposed combination of re/insurance brokers Aon and Willis Towers Watson (WTW), the Competition and Consumer Commission of Singapore (CCCS) has identified executive compensation and related consulting services as areas for further review. Following receipt of a notification from Aon for a decision on the ... Read the full article

Combined Aon/WTW would be world’s largest outsourced investment firm: Bloomberg

23rd June 2021

Reports from Bloomberg highlight how the proposed $30 billion merger of insurance brokerage giants Aon and Willis Towers Watson (WTW) would create the world’s largest outsourced investment management firm. Some critics of the proposed deal have warned that the combined entity would dominate outsourced investment services, noting concerns that the large ... Read the full article

DoJ suit may prolong international decisions on Aon & WTW merger

21st June 2021

The decision by the U.S. Department of Justice (DoJ) to try to block the proposed combination of re/insurance brokers Aon and Willis Towers Watson (WTW), suggests that regulators in other jurisdictions are now likely to fall in behind the DoJ's timeline, according to reports. Last week's announcement from the U.S. ... Read the full article

Aon & Willis Towers Watson surprised by DOJ lawsuit: report

21st June 2021

Global re/insurance brokers Aon and Willis Towers Watson (WTW) are said to have been surprised by the U.S. Department of Justice's (DOJ) decision to block their proposed combination, amid reports the parties were not offered a so-called 'last rites' meeting with leadership. Last week, the DOJ filed a civil antitrust ... Read the full article

Gallagher “wide open” to take on more Aon / WTW business, says CEO

18th June 2021

J. Patrick Gallagher, Jr. Chairman, President and CEO at Arthur J Gallagher, has said that the company remains “wide open” to taking on more business from the pending merger between Aon and Willis Towers Watson (WTW), should it be offered up as part of a further remedy package. It was confirmed ... Read the full article

Aon-WTW deal would deliver better client services, says GlobalData

18th June 2021

GlobalData analysts believe the Aon and Willis Towers Watson merger will complement each broker's business solutions and deliver better client services, following a block of their proposed merger by the Justice Department in the US. The U.S. Department of Justice (DOJ) filed a civil antitrust lawsuit to block the proposed ... Read the full article

Further divestitures more likely than Aon/WTW deal collapse, say analysts

17th June 2021

As the U.S. Department of Justice (DOJ) sues to block the combination of global re/insurance brokers Aon and Willis Towers Watson (WTW), analysts at KBW view additional divestitures as a more likely outcome than the deal falling apart completely. Previous reports that the DOJ was likely to approve the $30 ... Read the full article

US DOJ files antitrust lawsuit to block $30bn Aon / WTW combination

17th June 2021

The U.S. Department of Justice (DOJ) has filed a civil antitrust lawsuit to block the proposed $30 billion combination of Aon and Willis Towers Watson (WTW), stating that the merger threatens to eliminate competition, increase prices, and ultimately create a "broking behemoth." In response to the DOJ's announcement, Aon and WTW ... Read the full article

WTW, WWF target greater nat cat resilience in Fiji & Papua New Guinea

14th June 2021

Re/insurance broker Willis Tower Watson has announced a project to help support the climate adaptation and financial resilience of coastal communities in Fiji and Papua New Guinea (PNG) vulnerable to the impacts of climate change, including major shock events. The project, launched in partnership with the World Wide Fund for Nature ... Read the full article

Aon / WTW deal expected to gain EU antitrust approval by early July: Reuters

11th June 2021

Reuters, citing people familiar with the matter, has said that re/insurance broker Aon's proposed $30 billion combination with Willis Towers Watson (WTW) is expected to gain EU antitrust approval later in June or in early July. It looks as though the remedy package Aon submitted to the European Commission (EC) is ... Read the full article

Data is the biggest barrier when addressing climate risk: WTW

11th June 2021

According to a new survey by Willis Towers Watson (WTW), the availability of data is the biggest test firms expect to face over the next five years in order to address climate risk. The survey was created to gain insights on progress made to assess and manage the impact of climate ... Read the full article

WTW reports uptick in commercial insurance rates through Q1

10th June 2021

US commercial insurance prices increased again during the first quarter of 2021, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by broker Willis Towers Watson (WTW). The survey compared prices charged on policies underwritten during the first quarter of 2021 to those charged for the same coverage and quarter ... Read the full article

IFRS 17 to cost global insurance industry as much as $20bn: WTW

7th June 2021

The implementation of IFRS 17, the International Financial Reporting Standard that was issued by the International Accounting Standards Board, is estimated to cost the global insurance industry as much as $20 billion, according to a survey by Willis Towers Watson (WTW). The global insurance and reinsurance broker recently polled 312 carriers ... Read the full article

WTW announces parametric cover for Mesoamerican Coral Reef system

4th June 2021

Re/insurance broker Willis Tower Watson has partnered with the Mesoamerican Reef Fund on the development and implementation of insurance solutions aimed at protecting and restoring the 1,000km reef system along the Caribbean coast post-hurricane. The parametric insurance covers hurricane risk to the critically endangered Mesoamerican Reef (MAR) and the communities dependent ... Read the full article

Aon announces further $1.4bn divestment to appease US regulators

3rd June 2021

Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article