Arthur J. Gallagher & Co. announced it has completed the $3.25 billion acquisition of nearly all of the treaty reinsurance brokerage operations of Willis Towers Watson plc.
Together with Gallagher’s existing reinsurance operations, the combined businesses will trade as Gallagher Re from more than 70 offices across 31 countries and incorporate approximately 400 colleagues.
Gallagher’s plan to purchase Willis Re, first announced on May 12, 2021, was delayed after the plug was pulled in July on the $30 billion merger of Aon and Willis Towers Watson, a deal that was opposed by the U.S. Department of Justice. Willis had agreed to sell the reinsurance unit to satisfy antitrust concerns of European regulators an Aon-Willis merger.
