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Chairman Paul Folino said he expected the deal to be completed over the second quarter.
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European regulators are not expected to demand additional concessions of the deal partners.
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Credit Agricole served as the debt arranger, with Sompo Japan and Aioi Nissay Dowa Insurance acting as insurers.
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The move follows Willis’ explorations of sales of Willis Re and European units.
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Fallout from the 2019 JLT Re integration intensifies after a group including Brad Maltese were earlier reported to be set to join Howden.
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It is understood that the ~$300mn fac business will be packaged along with the treaty unit.
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The market has reached the stage of price hardening at which clients will challenge brokers and carriers on continuing increases, according to Aon president Eric Andersen.
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The erstwhile suitor cites falling valuations for residential property technology companies.
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The $7.5bn bid requires more certainty of value and a higher cash consideration, according to CoreLogic's CEO.
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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.
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The merger may cause price increases or reduced service levels for major insurance buyers.
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The two PE firms each take a 30% stake in the business, alongside Arch management.