BRUSSELS (Reuters) – EU antitrust regulators opened on Monday a full-scale investigation into Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, concerned that the deal may reduce competition.
The merger of the world’s second and third largest brokers would overtake world No. 1 Marsh & McLennan Companies Inc.
The European Commission said competition in the markets for commercial risk brokerage services, re-insurance brokerage and provision of retirement and health & welfare services to commercial customers could be significantly reduced due to the merger.
Reuters had reported on Dec. 15 that the EU competition enforcer would open an in-depth investigation into the deal after Aon declined to offer concessions to address EU competition concerns.
(Reporting by Foo Yun Chee)
