Willis Towers Watson
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The firm looks to leave the nixed merger behind, but the distraction has left it lagging behind peers, although with positive numbers.
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The share price jumped after CEO Haley said during an analyst call that the board was working on his succession plan, as well as signalling that its reinsurance business remains in play.
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The CEO also pledged revived investment in growth after the Aon deal collapse.
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The Willis Towers Watson CEO also confirmed the broker will not pay out bonuses contingent on the Aon merger.
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The broker reported adjusted diluted EPS of $2.66, up 48% on Q2 2020.
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The investment bank said a transaction would stabilise employee retention at Willis Re and allow Willis to pursue buybacks.
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Sources have said a deal could be signed as soon as the middle of the week, with a valuation higher than the last agreement.
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Ron Whyte, Willis Towers Watson’s COO of corporate risk and broking (CRB) for Asia is to leave the business next month, this publication can reveal.
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Willis Towers Watson will not pay staff bonuses that were contingent on the completion of the Aon merger.
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Willis’s Quarterly InsurTech Briefing shows investments raised more in H1 this year than the whole of 2020.
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The committee will be responsible for seeing through the broker’s four-pronged Aon United Blueprint.
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A White House press spokesperson said the deal would have led to higher costs for businesses and consumers.
