WTW
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The two brokers have also agreed to non-solicitation clauses in their new deal. -
Earlier today the firm announced that insider Hess will succeed CEO John Haley at year-end.
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The current head of the investment, risk and reinsurance segment will take the helm in January.
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The switch confirms a move first reported by Insurance Insider last month.
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Willis’s sale of its reinsurance arm was the best option it had left – but the loss will have implications for the wider business.
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The executive also praised Willis Re's management team for pushing for the best outcome for clients.
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The broker has explained the rationale for its $3.25bn acquisition of Willis Re on an investor call.
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As earnings season draws to a close, insurers continue to post strong profits following sustained market correction.
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After the collapse of the Aon-Willis merger, Gallagher has successfully resurrected the deal that will catapult its reinsurance operation into the big league.
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London-based Brendan Carberry’s hire is part of a surge in recent moves in the product recall class.
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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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Major increase in incentive pool represents an early step from management to shore up its staff base.
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