$30bn Aon and Willis Towers Watson merger called off

The decision not to proceed was a mutual one between the two insurance giants with Aon chief executive, Greg Case, claiming an "impasse" with the authorities had been reached. In June, the US Department of Justice filed a civil antitrust lawsuit to stop the deal after alleging the merger would reduce competition. With the combination of the second and third largest insurance brokers, the US Department of Justice argued this would effectively consolidate the industry's ‘big three' into a big two. Attorney General, Merrick Garland, described the step by the brokers to back down as a ...