Willis Towers Watson

The merging brokers have also agreed a two-year non-compete agreement on transferring Willis business.

The AJG CEO vowed to invest in Willis Re assets while stressing the quality and security of the team.

The merger partners are working towards a third-quarter completion after a side-deal they say addresses EC concerns.

The yardstick will allow insurers and financial institutions to assess companies’ transition plans against the 2015 Paris Agreement.

The regulator had previously set a 27 July deadline after the merger partners offered divestments to secure regulatory approval.

European regulators are not expected to demand additional concessions of the deal partners.

The move follows Willis’ explorations of sales of Willis Re and European units.

It is understood that the ~$300mn fac business will be packaged along with the treaty unit.

The broker’s international chairman also noted an emphasis on restructuring aggregate programmes during this year’s 1 April.

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. 

The tally so far comes in far below the broker’s year-ago estimate of $80bn for a twelve-month lockdown.

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.