Willis & Towers Watson to merge creating $18bn broking giant
Wednesday, 07 01 2015, Category: Insurance and Reinsurance, Country: World
Consolidation is once again in the news as it is announced that insurance and reinsurance broker Willis Group is to merge with global professional services firm Towers Watson, to create an $18 billion broking, advisory and professional services giant.
The result will be an $18 billion firm named Willis Towers Watson with operations across the insurance, reinsurance and professional services and advisory space. It’s perhaps particularly interesting that Towers Watson has come together with Willis, given the firm offloaded its reinsurance broking arm to JLT previously.
Willis Towers Watson will be 50.1% owned by Willis shareholders, while Towers Watson shareholders will own 49.9% of the firm’s equity on a fully diluted basis.