Aon and Willis Towers Watson are confirming the European Commission’s conditional approval of the two companies’ proposed merger. “This is a major step that demonstrates continued progress toward obtaining regulatory clearances for the proposed combination,” said the companies, in a press release. “Both firms operate across broad, competitive areas of the economy and believe this approval affirms […]
U.S. President Joe Biden’s administration is suing to block the merger of two of the world’s largest insurance brokers, asserting the deal could eliminate competition, raise prices and hamper innovation for American businesses, employers and unions that use the companies’ services. On Wednesday, the U.S. Department of Justice announced the antitrust suit filed in federal […]
Aon is selling its U.S. retirement business to Aquiline Capital Partners and its retiree health exchange business to Alight Solutions for a total of US$1.4 billion. The sales are intended to address questions raised by the U.S. Department of Justice ahead of the pending merger of Aon and Willis Towers Watson, according to a press […]
Aon and Willis Towers Watson have reached an agreement to sell Willis Re and a set of Willis Towers Watson’s corporate risk and broking, as well as health and benefits services, to Arthur J. Gallagher & Co. for $US3.57 billion. The agreement resolves questions raised by the European Commission and is intended to address certain […]
Goldman Sachs Group Inc.’s merchant banking division is acquiring Manitoba-headquartered People Corporation Inc., for an estimated total equity value of $1.13 billion. “This transaction delivers tremendous value for our shareholders while creating the conditions that will enable our team to write People Corporation’s next chapter,” said Laurie Goldberg, executive chairman and chief executive officer of […]
Morneau Shepell Ltd. is appointing Gavin Benjamin as partner in its retirement solutions business. With more than 30 years of experience in the pension industry, he was most recently senior director of retirement and actuary at Willis Towers Watson. As a consulting actuary, he advises plan sponsors on all aspects of pension plan management, including design, […]
Arthur J. Gallagher & Co. is acquiring integrated talent management firm Optimum Talent Inc. With this acquisition, the Quebec-based company will gain access to Gallagher’s resources, enabling it to further enhance its plan sponsor offerings, noted a press release. As well, the merger will allow Gallagher to expand its reach in the benefits and human resources consulting […]
Over the last 20 years, managing a pension plan has looked a little like riding a roller coaster — with the 2001 technology bubble, 2008/09 financial crisis and the recent coronavirus market volatility providing sudden, gut-wrenching drops that can draw a scream from even the heartiest of souls. “From an investment standpoint, we’ve been in […]
Willis Towers Watson is appointing Tony Rooke as director of climate transition risk in the organization’s climate and resilience hub. In the new role, Rooke will drive WTW’s client guidance on climate transition risk disclosure, management and opportunities. Read more People Watch news With more than 22 years of global experience in climate change, sustainability, strategy, advisory […]
Proteus is promoting Teimaz Binesh, Lewis Powell and Michael Scott to senior investment consultants. In their new roles, they’ll continue to provide investment consulting and governance services to corporate pension plans, multi-employer plans, foundations and endowments, not-for-profit organizations and high-net-worth individuals, according to a press release. “I’m delighted to recognize these team members for their […]