Gallagher finalizes deal for Willis Towers Watson’s reinsurance arm


As part of the transaction, the reinsurance business of WTW and the existing reinsurance activities of Gallagher will be merged – under the name Gallagher Re from more than 70 branches in 31 countries and with 2,400 colleagues.

James Kent, CEO of Global Reinsurance, will lead Gallagher Re reporting to Tom Gallagher, CEO of Gallagher’s global property and casualty insurance.

Commenting on the acquisition, Kent said, “This combination marks a new chapter for two remarkable teams of reinsurance brokers, as well as for our valued and extremely supportive clients and stakeholders. We bring together highly complementary and respected reinsurance companies to create a truly compelling unified reinsurance platform. I am incredibly proud to lead Gallagher Re into the next phase of growth. “

J. Patrick Gallagher, Jr., Chairman, President and CEO, welcomed the new fellow reinsurance broker to the global insurance broker, adding, “Together we will build on our shared focus on outstanding service, expertise and customer-centric culture. I am confident that the merger will add tremendous value to our clients, our global broker and risk management teams, and our shareholders. “

The announcement follows the completion of the Competition and Market Authority (CMA) investigation into Gallagher’s takeover offer.

In a statement released in November, the CMA stated that it refused to proceed with the next stage of its investigation based on the information it had at the time.

The UK antitrust regulator decision came months after Gallagher announced an agreement to acquire the insurance giant’s contract reinsurance business Willis Re for $ 3.25 billion.

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