Willis and Towers Watson to merge in $18bn deal

US reinsurance giant Willis on Tuesday announced its plans to merge with professional services company Towers Watson, in a deal valued at $18bn deal.

Both companies pointed out the agreement was designed to create a “leading global advisory, broking and solutions firm."

"the combination fast-tracks each company’s growth strategy"

“The rationale for the merger is powerful – at one stroke, the combination fast-tracks each company’s growth strategy and offers a truly compelling value proposition to our clients,” Willis Chief Executive Officer Dominic Casserley said in the statement.

The combined company will have about 39,000 employees in more than 120 countries and will be owned 50.1% owned by Willis, while Towers Watson shareholders will own the remainder.

It will be named Willis Towers Watson.

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