Aon PLC plans to close its $ 30 billion proposed purchase of rival Willis Towers Watson PLC "as early as possible in the third quarter", according to Aon CEO Greg Case.
Mr. Case made his comments Wednesday morning as he spoke with Julie Herman, CEO of New York with S&P Global Ratings Inc. at the company's 37th annual insurance conference, which is held virtually online.
Over the past year, Case said, there has been a growing awareness – a "great awakening" – among business leaders around the world about the idea of dealing with long-term risks such as climate, cyber and pandemics. "I'm really talking about C-Suites ̵
. new normal ", called the phrase and idea" corrosive "and" negative ", instead he suggested a" new better. "
As an example, he asked Mrs. Herman about attendance. at the conference, which she snapped at more than 1,000 this year online, where the physical conference had previously drawn about 500.
"More exposure than ever before," Case says. “The connection with customers is up. The opportunity for innovation is up, "as well as the chance to scale that innovation, he said.
Part of that innovation comes from increased digitization and the use of technology, which Case called" basic "and" essential. "He cited as an example Aon's acquisition in January 2020 of New York-based digital insurance platform Coverwallet Inc.
" The coverwallet has been phenomenal. It has created access for us in different ways, for different groups, which we did not have in the same way before, ”said Case.
In the commercial insurance market, the upward pace has seen some slowdown as new capital has entered the market, Case said. However, there is "a lot of pressure" in North America, especially in the markets for property protection and financial line insurance. Pricing in Europe is lower than in the United States, "but still there", and pressure in Asia and Latin America is lower than in Europe, Case said.