WTW

The executive was speaking in his first interview since the collapse of his firm's proposed merger with Willis.

AJ Gallagher is on the cusp of a deal to acquire Willis Re, and the transaction is likely to be announced imminently, this publication can reveal.

The executive is leaving his role as global head of broking at Willis to take on a major role at Aon, in the aftermath of the mega-merger collapse.

The departure comes as Willis comes to terms with the aftermath of the failed merger with Aon and the impending retirement of long-term CEO John Haley.

The limits of the mega deal for the public players has been tested, but there is scope for some of the bigger private players to merge.

Willis Re conducted the Wildfire Resilience Insurance project with Nature Conservancy to offer solutions to a worsening wildfire market outlook.

Major increase in incentive pool represents an early step from management to shore up its staff base.

The firm looks to leave the nixed merger behind, but the distraction has left it lagging behind peers, although with positive numbers.

The share price jumped after CEO Haley said during an analyst call that the board was working on his succession plan, as well as signalling that its reinsurance business remains in play.

The CEO also pledged revived investment in growth after the Aon deal collapse.

The Willis Towers Watson CEO also confirmed the broker will not pay out bonuses contingent on the Aon merger.

The broker reported adjusted diluted EPS of $2.66, up 48% on Q2 2020.