mergers & acquisitions

Having restarted the clock and extended the deadline for a decision on the process to approve or deny the proposed merger of insurance and reinsurance broking giants Aon and Willis Towers Watson (WTW) just a few days ago, the European Commission (EC) has now pushed it forwards again by another roughly two weeks.

The deadline for approval of the proposed merger of insurance and reinsurance broking giants Aon and Willis Towers Watson (WTW) has been pushed back by just over two months, as a package of concessions has now been received and the European Commission (EC) restarted the clock on the process.

The merger of insurance and reinsurance broking and consultancy giants Aon and Willis Towers Watson (WTW) continues to be looked at by watchdogs, with the Competition and Consumer Commission of Singapore the latest to assess the deal.

The Board of insurer The Hartford has rejected the acquisition offer made recently by larger rival Chubb, saying that its Board concluded that the deal was not in the best interests of the company and its shareholders.

Global primary insurance carrier and reinsurance company Chubb has confirmed that it made a roughly $23.24 billion offer for rival the Hartford, offering $65 per share, a deal that falls short of the acquiree’s now boosted valuation of $24.36 billion.

According to a report published on Bloomberg, global primary insurance carrier and reinsurance company Chubb is looking at significant expansion opportunities, with a potential $22 billion acquisition of the Hartford said to be being explored. Update: Chubb confirmed it had made a $23.24bn offer for the Hartford.

According to Reuters, the Aon and Willis Towers Watson (WTW) merger may face a statement of objections from the European Commission (EC), as the authority seeks concessions to address competition concerns.

Insurance and reinsurance broker Miller, which has an industry-loss warranty (ILW) and insurance-linked securities (ILS) broking practice, is now an independent company again, after its acquisition by by private equity specialist investor Cinven and Singapore’s sovereign wealth fund GIC completed.

SiriusPoint Ltd. has launched as a new international specialty insurance and reinsurance company today, starting with over $3 billion of capital.

More of the executive leadership of SiriusPoint, the new international insurance and reinsurance firm that will be launched out of the coming together of Third Point Re and Sirius Group, has now been revealed by the company.