4. Aon reorganized leadership after Willis deal was scrapped
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When it was announced in March 2020, Aon PLC’s agreement to buy rival Willis Towers Watson PLC was set to create the world’s largest brokerage, but nearly two years later the deal is history and both brokers continue to operate as independent companies.
Regulatory concerns over the clout of the proposed combined company in several different sectors led to the U.S. Justice Department filing suit to stop the deal in June, and Aon and Willis called off the $30 billion merger in July.
Months previously, the two brokerages had announced the leadership structure for the post-acquisition company, but those plans became moot.
Only two days after Aon said it was scrapping the deal, it announced a reorganization in its leadership. The story detailing the changes was the fourth most read risk management-related story on Business Insurance’s website in 2021.
Other reorganization announcements followed, including executive changes at Aon’s reinsurance brokerage unit, a new CEO for Willis and other changes among its leadership ranks.
