Gallagher signs reshaped $3.25bn Willis Re deal

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Gallagher has announced an agreement to acquire the treaty reinsurance brokerage operations of Willis Towers Watson/Willis Re for $3.25bn. 

The transaction is expected to close during the fourth quarter of 2021.

Gallagher had been due to buy $3.6bn worth of assets from WTW following its own planned merger with Aon. That divestment deal collapsed last month after Aon and Willis pulled the plug on the merger on their own combination following interventions from the US Department of Justice.

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