Aon

EC documents do not give details of individuals, but said the ringfenced team ranges in seniority.

The ACCC had initially said it would wrap up its investigation into the competitive implications of the merger by May 27.

Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.

The US regulator has proposed Willis sells its San Francisco and Houston CRB businesses, and its Bermudian insurance broking arm.

The number four broker is seeking to acquire both Willis Re and the European insurance broking businesses.

Such events are worsening in impact and are harder to recover from, according to the Respecting the Grey Swan report.

In the absence of macro and micro catalysts the short interest changes in the broader industry were muted.

The move follows the brokers’ submission of a remedies package last week to allay competition concerns.

Binding insurers include Chubb and AIG, with reinsurance from Munich Re.

Further details of the proposed remedies to the European Commission are revealed.

The move follows Willis’ explorations of sales of Willis Re and European units.

States most impacted include Alabama, Mississippi, Texas, Georgia, and Tennessee.