Aon
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The new bind feature enables markets to complete and bind Aon's treaty reinsurance placements without face-to-face meetings.
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Long closing period and Covid-19 uncertainty expected to curb early staff exits. -
Staff let go within that time frame would receive at least the same severance package as under offer at Willis.
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The arrangement would put former Aon Benfield CEO Andersen at the heart of the largest corporate tie-up so far in 2020.
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The terms of the transaction suggest closing could stretch to October 2021 or beyond.
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Battle for talent sparked off by MMC-JLT deal is likely to intensify.
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Meanwhile, Fitch has upgraded the ratings outlook for Willis to positive.
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The CEO predicts new broker start-ups as a result of the fusion.
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The broking giant is seeking compensation of at least $200mn, according to Reuters.
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European windstorm Ciara was the most expensive event of the month.
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Details of structure and leadership to follow within 90 days.
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The mega acquisition will throw off talent and clients but the creation of a giant top two may crush competition.
