The company confirmed that once the deal goes through it will merge the business with JLT Re.
The new combined operation will have combined revenues of US$266m and 700 staff in 35 locations in 17 countries. It will be branded for a transitional period as JLT Towers Re.
Towers Watson's reinsurance brokerage business generated revenues of US$166m and profit before tax of US$26m in the year ended June 2013, which according to JLT makes it the fourth largest reinsurance broker in the world.
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