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Align’s founder Kieran Sweeney will run the merged business in the US, become executive chairman of Dual Group globally, and is joining Howden’s executive committee. -
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.
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Plus this week’s earnings and all the top news from the week.
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Moody’s expects RMS, which had about $320mn in revenue around $55mn in operating income last year, to become accretive to earnings by 2025.
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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.
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The investment bank said a transaction would stabilise employee retention at Willis Re and allow Willis to pursue buybacks.
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Sources have said a deal could be signed as soon as the middle of the week, with a valuation higher than the last agreement.
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Executives addressed analysts following strong Q2 results and the earlier collapse of the Willis integration.
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The firm should trade off maximum possible value for near-term certainty in crystallising shareholder value.
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Willis Towers Watson will not pay staff bonuses that were contingent on the completion of the Aon merger.
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“There are a lot of great people at Willis, and they would have been a great addition to our team,” the CEO said.
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The acquisition is the first executed by Howden Europe.
