London-headquartered Aon clinched the deal a year ago to create the world’s largest insurance broker ahead of Marsh & McLennan Companies Inc as the sector battles with rising claims and new challenges from the COVID-19 pandemic and climate change.
Reuters reported on April 28 that the European Commission would clear the mega deal after Aon offered to sell substantial assets to address competition concerns.
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The EU competition watchdog, which is scheduled to decide on the deal by Aug. 3, and Aon declined to comment.
Aon last month said it would sell a swathe of Willis’ assets, including its reinsurance arm, corporate risk and broking, and health and benefits services to Arthur J. Gallagher & Co for $3.57 billion to allay EU concerns.
Earlier this month, it announced the sale of some assets to private equity firm Aquiline Capital Partners and tech firm Alight for $1.4 billion in a bid to get U.S. approval for the Willis deal.
Aon and Willis put together insurance contracts for clients that involve a number of insurance providers, for anything from airlines to large sporting events.
Source: Yahoo Finance
