UK competition watchdog ends probe into Gallagher, Willis deal

By Reuters

<div> <p><span class="caps">LONDON</span> – Britain’s competition watchdog said on Monday it will not refer insurance broker Arthur J Gallagher & Co’s planned $3.25 billion purchase of Willis Towers Watson’s treaty reinsurance brokerage business to an in-depth investigation.</p> <p>The Competition and Markets Authority said it has taken its decision based on the information currently available to it.</p> <p>The deal, announced in August, came weeks after Willis and rival Aon Plc called off their $30 billion merger that would have created the world’s largest insurance broker following opposition from the U.S. Department of Justice.</p> <p>Treaty reinsurance involves reinsuring the whole of an insurer’s book of business, rather than individual projects or risks.</p> <p/> </div>