WTW

The marine hull and war underwriter will rejoin former colleague Chris Goddard, who launched the start-up last year.

The four major developments of the week include:

EU antitrust regulators will warn Aon that its $30bn bid to acquire Willis Towers Watson may hurt competition in the broking marketplace, according to a Reuters report. 

United Airlines’ all-risks policy could face liability claims, while the Pratt & Whitney policy could see a partial grounding claim.

The new arrival will also be financial lines manager for Denmark and Norway.

Market sources report an uptick in competition to secure accounts as clients sought optimum deals in a challenging market.

The merger may cause price increases or reduced service levels for major insurance buyers.

Event definitions were also tightened at renewals, the broker said.

Sources have emphasised that such pauses are a routine part of the Phase II review process.

Margins expanded in three of four business units, including by 200 bps in corporate risk and broking, but contracted by 37 bps overall.

Michael Burwell, Gene Wickes, Carl Hess and Joseph Gunn will each receive a payment for staying with the business until the deal closes.

Executives reiterate the mid-single expansion guidance announced in March, despite growing organically by 1% in 2020.