WTW

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.

London-based Brendan Carberry’s hire is part of a surge in recent moves in the product recall class.

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.

Major increase in incentive pool represents an early step from management to shore up its staff base.

A judge found no evidence Mike Harden unlawfully solicited colleagues who “did not want to work for an Aon-controlled organisation”.

The share price jumped after CEO Haley said during an analyst call that the board was working on his succession plan, as well as signalling that its reinsurance business remains in play.

The CEO also pledged revived investment in growth after the Aon deal collapse.

The Willis Towers Watson CEO also confirmed the broker will not pay out bonuses contingent on the Aon merger.

The broker reported adjusted diluted EPS of $2.66, up 48% on Q2 2020.

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.