WILLIS CONSIDERING GRAS SAVOYE SALE: REPORTS

Willis Towers Watson (WTW) is reportedly considering the sale of French insurance broker Gras Savoye in a bid to smooth its proposed merger with Aon. According to French insurance magazine, L’Argus de l’assurance, rumours of Gras Savoye’s sales are circulating in the market. By divesting its controlling stake in Gras Savoye, it is thought WTW might be able to overcome some objections to its proposed $30bn take-over by rival Aon. The deal was expected to close in the first half of 2021, but the merger faces competition hurdles in Europe, Australia and New Zealand. The European Commission is reportedly awaiting proposals from Aon and WTW to address its competition concerns. Earlier this month, WTW completed the sale of London market broker Miller to Cinven and GIC. Analysts have suggested the merger could also see Willis Re put up for sale.