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Home / Insurance / EU asks about Aon rival Gallagher, others are the right buyers: Sources

EU asks about Aon rival Gallagher, others are the right buyers: Sources



(Reuters) – EU antitrust regulators ask Aon PLC competitors and customers who is the best buyer of assets the insurance broker has offered to sell to address the competition concerns surrounding its $ 30 billion Willis Towers Watson PLC bid, people familiar with the matter

Earlier this month, Aon offered to sell assets in five EU countries, Willis' reinsurance arm and its German pension benefits and consulting business, people with direct knowledge of the matter had told Reuters.

The European Commission Concession Package also covered Willi's insurance brokerage activities in France, including the French unit Gras Savoye, as well as in Germany, Spain and the Netherlands.

Aon is also prepared to sell Willis' entire portfolio services for real estate / accident events. large multinational companies in these four countries and other European assets to serve these customers, as well as its financial and professional lines.

The EU competition watchdog then sought feedback from competitors and customers.

A questionnaire sent to them asked which nine rivals ̵

1; French companies Besse, Siaci and Verspieren, German brokers Funk, American corporations Arthur J. Gallagher Co. and Lockton Cos. LLC and UK rivals Howden, McGill and Partners and BGC / Corant – would be a suitable buyer of Willis assets, said one of the people.

Gallagher said it did not comment on market speculation. There was no immediate response from the other companies to a Reuters request for comment.

EU regulators want to know if the potential buyer should have certain characteristics as a multinational network that make them better able to serve large multinational customers, the person said.

EU competition managers usually prefer to acquire companies to sell assets to stimulate a competitor, giving customers more choice.

The Commission is scheduled to decide by 27 July whether to clear or block the deal.
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