AJ Gallagher

The two brokers have also agreed to non-solicitation clauses in their new deal.

The executive also praised Willis Re's management team for pushing for the best outcome for clients.

The broker has explained the rationale for its $3.25bn acquisition of Willis Re on an investor call.

As earnings season draws to a close, insurers continue to post strong profits following sustained market correction.

After the collapse of the Aon-Willis merger, Gallagher has successfully resurrected the deal that will catapult its reinsurance operation into the big league.

The broker said ESG pressure was attracting capacity away from fossil fuels to renewables.

Hughes will assume the role of a consultant within the practice, responsible for supporting client-facing teams with legal input to complex insurance coverage, claims and contract issues.

AJ Gallagher is on the cusp of a deal to acquire Willis Re, and the transaction is likely to be announced imminently, this publication can reveal.

With a last-minute acquisition by AJ Gallagher on the cards, Willis Re can put the last 16 months of turbulence behind it and come back super-charged.

The investment bank said a transaction would stabilise employee retention at Willis Re and allow Willis to pursue buybacks.

Sources have said a deal could be signed as soon as the middle of the week, with a valuation higher than the last agreement.

The firm should trade off maximum possible value for near-term certainty in crystallising shareholder value.