Aon

The brokers have offered to divest Willis’ largest corporate risk and broking clients to Gallagher’s Crombie Lockwood.

A spell of tornadoes, rain and hailstorms across the continent drove the loss activity.

The competition watchdog has approved the acquisition of Willis Towers Watson by Aon if the latter complies with a ‘substantial set of commitments’, including the divestment of central parts of Willis’s business to Gallagher.

Aon will have to wait until November at the earliest to argue the case in Federal Court for its $30bn merger with Willis Towers Watson.

The Commerce Commission has extended its review of the merger by another six weeks.

Austria and the Czech Republic are likely to record their most costly convective storms on record.

The CCCS has identified competition concerns around executive pay consulting services.

Frederick Streeton will join in September from Liberty Mutual Group, where he was head of underwriting strategy for the its global risk solutions business.

The Chicago-based executive has also worked for Credit Suisse.

Trading Risk reported last year that the Aon executive had resigned to join Lockton.

The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".

The model uses research and technology to provide insurers with a more in-depth view of risk when submitting risk filings in Florida.