WTW

Carriers also reported premium expansion and improved solvency during the quarter.

With economic activity bouncing back globally and major events attracting large crowds returning to the calendar, Willis Towers Watson warned that the level of terrorism risk is also likely to rebound.

The CEO said that his company was ‘wide open’ to absorbing additional assets to satisfy regulators’ concerns.

Shares in AJ Gallagher and Willis Towers Watson held broadly stable after the announcement from the US Department of Justice.

The investment bank’s analysts suggested that staff and clients may leave as a result of uncertainty, during a prolonged US lawsuit over the Aon-Willis mega merger.

Inside P&C gives a blow-by-blow account of the regulator's antitrust complaint against the mega deal.

The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".

The move from the US regulator represents the biggest threat to the mega-merger since it was announced in March last year.

A recent spate of divestiture offers have reportedly failed to address fears around corporate broking business.

The news follows the agreement to sell several assets to AJ Gallagher, including Willis Re.

The US retirement disposals announced last week will be followed by two health unit sales as the parties seek regulatory sign-off.

The new accounting framework is being brought in to replace current GAAP reporting measures.