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This week, we revealed that Aon/Willis Towers Watson are looking to separately divest a block of Willis' European businesses and Willis Re, as they work to get their mega merger approved by regulators in the face of competition concerns. -
It is understood that the ~$300mn fac business will be packaged along with the treaty unit.
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The largest of the businesses, Gras Savoye, has been seen as one of the jewels in the crown at Willis.
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Canadian carrier Intact is to issue C$250mn ($198.5mn) of subordinated debt in order to fund its takeover, with Danish insurer Tryg, of RSA.
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The one-time suitor releases a statement after a report that Allianz is contemplating an offer of its own.
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The German carrier is reportedly wary of Chubb’s bidding firepower because of the lack of synergies any takeover would yield.
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The potential disposal may help to alleviate competition concerns within the French market.
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The sale concludes Aviva’s plan to divest from non-core geographies and focus on the UK, Ireland and Canada.
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The Aon president said insureds will begin to “test” carriers and brokers on price.
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The Toby Esser-led broker said it would fulfil responsibilities to clients and partners.
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The service firm is jointly owned by a consortium comprising Paraline International, Skuld and investment firm ACHP plc.
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The firm is working with Canaccord Genuity to explore options for the business.
