The companies disclosed that Aon will pay Willis the $1bn break fee.
We examine what could happen to the reinsurance broking unit should the Aon-Willis merger fall through.
Lord Sedwill also served as head of the UK civil service and national security adviser.
The London-listed carrier reported growth and positive rate movement in all seven of its business segments.
Any transaction would be predicated on a major reorganisation of the acquisition target, slowing deal progress.
22 July 2021
Some observers questioned whether Hiscox would have benefitted from the bigger shake-up of an external hire.
Underwriters warned of a need to sustain profits and the risk of losses as plants are reactivated.
Huge disputes over aggregation of claims and ongoing coverage disputes point to uncertain overall exposures.
Analysts believe 2021 will be a “transition year” for Hiscox, Beazley and Lancashire.
Over the past decade, the high degree of fragmentation within the UK retail broking market has attracted private equity investors intent on consolidating intermediaries to create additional value.
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