WTW
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Carriers also reported premium expansion and improved solvency during the quarter. -
The CEO said that his company was ‘wide open’ to absorbing additional assets to satisfy regulators’ concerns.
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Shares in AJ Gallagher and Willis Towers Watson held broadly stable after the announcement from the US Department of Justice.
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The investment bank’s analysts suggested that staff and clients may leave as a result of uncertainty, during a prolonged US lawsuit over the Aon-Willis mega merger.
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Inside P&C gives a blow-by-blow account of the regulator's antitrust complaint against the mega deal.
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The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".
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The move from the US regulator represents the biggest threat to the mega-merger since it was announced in March last year.
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The US Department of Justice’s antitrust concerns around the Aon-Willis merger have not been fully addressed by the brokers’ recent spate of divestment plans.
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Staff displacement at Aon and Willis is increasing as the brokers move towards completion of their mega merger.
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The news follows the agreement to sell several assets to AJ Gallagher, including Willis Re.
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The new accounting framework is being brought in to replace current GAAP reporting measures.
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The broker has offered to sell its group pharma purchasing and claims audit services in a bid to get the greenlight for its Willis takeover.
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