{"id":113089,"date":"2021-04-28T17:11:29","date_gmt":"2021-04-28T17:11:29","guid":{"rendered":"https:\/\/fin2me.com\/?p=113089"},"modified":"2021-04-28T17:11:29","modified_gmt":"2021-04-28T17:11:29","slug":"exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources\/","title":{"rendered":"Exclusive-Aon's $30 billion Willis deal set to win EU approval – sources"},"content":{"rendered":"
FILE PHOTO: FILE PHOTO: An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS\/Loren Elliott<\/figcaption>

BRUSSELS (Reuters) -Aon is set to gain conditional EU antitrust approval for its $30 billion bid for Willis Towers Watson, people familiar with the matter said, clearing a key hurdle to becoming the world\u2019s No. 1 insurance broker.<\/p>\n

The sector\u2019s biggest-ever deal comes as insurers struggle with rising claims and new challenges brought on by the COVID-19 pandemic and climate change. London-headquartered Aon, which clinched the deal a year ago to create the world\u2019s largest insurance broker ahead of Marsh & McLennan Companies Inc, offered concessions to the European Commission earlier this month. Following feedback from rivals and customers last week, the EU competition enforcer has asked for some tweaks but is unlikely to ask for more concessions, the people said. Aon could have faced a charge sheet called a statement of objections which sets out EU concerns if market feedback had been negative and if it had then refused to offer more concessions. This is not the case now, the people said.<\/p>\n

Aon\u2019s shares reversed losses and gained as much as 1.2% after the Reuters story while Willis also trimmed losses and rose 2.9%. The concessions package includes selling a swathe of Willis assets, including its reinsurance arm and its German retirement benefits and consulting business, people with direct knowledge of the matter have told Reuters.<\/p>\n

The concessions also include selling Willis\u2019 insurance broking activities in France, including French unit Gras Savoye, as well as in Germany, Spain and the Netherlands.<\/p>\n

Willis\u2019 entire property and casualty business portfolio servicing large multinationals in those four countries and other European assets to service these clients, as well as its financial and professional lines, will also be sold.<\/p>\n

The Commission, which is scheduled to decide on the deal by July 27, and Aon declined to comment.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FILE PHOTO: FILE PHOTO: An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central […]<\/p>\n","protected":false},"author":3,"featured_media":113088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nExclusive-Aon's $30 billion Willis deal set to win EU approval - sources - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exclusive-Aon's $30 billion Willis deal set to win EU approval - sources - Fin2me\" \/>\n<meta property=\"og:description\" content=\"FILE PHOTO: FILE PHOTO: An office building with the Aon logo is seen amid the easing of the coronavirus disease (COVID-19) restrictions in the Central [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-28T17:11:29+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/Exclusive-Aons-30-billion-Willis-deal-set-to-win-EU-approval-sources.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources\/\",\"url\":\"https:\/\/fin2me.com\/markets\/exclusive-aons-30-billion-willis-deal-set-to-win-eu-approval-sources\/\",\"name\":\"Exclusive-Aon's $30 billion Willis deal set to win EU approval - 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