Aon seeks clearance to acquire Willis Towers

WELLINGTON, New Zealand, 16 October 2020 /PRNewswire Policy/ -- The Commerce Commission has received a clearance application from Aon plc to acquire all the shares of Willis Towers Watson Public Limited Company as part of a global transaction.

Aon and Willis Towers Watson are both publicly traded, global professional services firms that specialise in risk management.

In New Zealand, Aon and Willis Towers Watson both provide a range of insurance brokerage services, including for commercial insurance, reinsurance, group health and welfare benefits, and personal and life insurance. In addition, both firms provide investment consulting services to institutional investors.

Aon has 58 offices throughout New Zealand, while Willis Towers Watson operates out of five office locations in Auckland, Wellington, Christchurch, Tauranga, and Dunedin.

The proposed transaction would see Willis Towers Watson become a wholly owned subsidiary of Aon.

A public version of the clearance application is now available on the Commission's case register.

Background

We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.

SOURCE Commerce Commission New Zealand