WTW
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The transaction was cleared in five out of six jurisdictions – including by US antitrust authorities – and is only pending UK regulatory approval. -
On an earnings call to discuss Q3 results, Willis CEO John Haley said staff attrition has peaked following the aborted Aon takeover.
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The profitability metrics were impacted by the $1bn income received following the Aon deal termination.
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Willis’ latest InsurTech briefing shows how a small group of InsurTechs are securing the lion’s share of investment via $100mn-plus mega-rounds.
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Margin expansion and higher returns to shareholders would come at a cost with a cut in investment and staff over the coming years.
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Starboard estimates Willis's share price could double in three years and said there is room for margin improvement.
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In an internal memo, the company named a raft of leaders by country and business unit, though many roles also remain unfilled.
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Alex Shepherd, who joins from ERS Syndicate 1856, will aim to replicate the broker’s “hub approach” in its facultative business.
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The agreement ends non-solicitation action against the team of brokers, led by Cameron Roe and chairman Tony Phillips.
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The arrival of Elliott, Starboard and TCI could play a major role in shaping the broker’s future.
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Willis signed the new loan after outlining in early September its plans for reinvigorating its business following the termination of its $30bn mega-merger with Aon.
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The stipulation will end the case, as all the parties requested a dismissal with prejudice.
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