WTW introduced it’s going to return to treaty reinsurance broking by way of a three way partnership with the personal funding agency Bain Capital.
WTW will maintain a minority share within the new firm, mentioned WTW in an announcement outlining its progress and worth creation technique throughout its investor day on Dec. 3. (Extra particulars on the JV can be offered throughout the investor day).
“This new firm will mix WTW’s wealthy historical past, main international community and experience in insurance coverage broking, consulting and know-how with Bain Capital’s scaled staff of insurance coverage business consultants and confirmed track-record of constructing and rising modern insurance coverage companies throughout the worth chain,” mentioned WTW in an announcement.
WTW exited the treaty reinsurance market on the finish of 2021 when Arthur J. Gallagher & Co. acquired those operations for $3.25 billion. WTW moved to promote its treaty enterprise with the intention to make a proposed merger with Aon extra palatable to competitors regulators within the US and EU.
Nonetheless, the plug was pulled on the $30 billion merger after the US Division of Justice opposed the deal as being anti-competitive. Gallagher’s plan to buy Willis Re, which was first introduced on Could 12, 2021, was delayed however ultimately was finalized in December 2021.
Subjects
Mergers & Acquisitions
Reinsurance
Willis Towers Watson
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