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Sale of Willis Re Still Possible After Collapse of Aon Merger, Gallagher Deal

Sale of Willis Re Still Possible After Collapse of Aon Merger, Gallagher Deal Insurance broker Willis Towers Watson PLC said on Tuesday it is weighing strategic alternatives for its reinsurance unit, Willis Re, days after a planned sale to rival Arthur J. Gallagher fell through. Willis and broker Aon PLC had planned to merge to create the world’s largest insurance broker, topping current leader Marsh & McLennan Companies Inc. As part of the merger, European regulators demanded the sale of Willis Re to preserve competition, and Gallagher had agreed to buy it and other assets for about $3.6 billion. Opposition from the U.S. Department of Justice, however, caused Aon and Willis Towers Watson to walk away from the merger last week, which scotched the concession sales.

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