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Aon and Willis Towers Watson Mutually Agree to Terminate Combination Agreement

"Aon plc and Willis Towers Watson announced today that the firms have agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first announced on March 9, 2020.... In connection with the termination of the business combination agreement, Aon will pay the $1 billion termination fee to Willis Towers Watson, Willis Towers Watson's proposed scheme of arrangement has now lapsed, and both organizations will move forward independently."

Justice Department Sues to Block Aon's Acquisition of Willis Towers Watson

"The merger between Aon and Willis Towers Watson would combine two of the 'Big Three' insurance brokers who, as alleged in the complaint, can offer global service, sophisticated data and analytics, and a breadth and depth of knowledge and expertise that other brokers do not offer. As alleged in the complaint, Aon and Wills Towers Watson operate 'in an oligopoly' and 'will have even more [leverage] when [the] Willis deal is closed.' If permitted to merge, Aon and Willis Towers Watson could use their increased leverage to raise prices and reduce the quality of products relied on by thousands of American businesses -- and their customers, employees, and retirees." [U.S. v. Aon and Willis Towers Watson, No. 21-1633 (D.D.C. complaint filed Jun. 16, 2021)]

Aon Sues Willis Towers Watson, New CFO Over Breaking Non-Compete Agreement

"Willis Towers Watson and its new Chief Financial Officer Michael Burwell, who is scheduled to start Oct. 2, are being sued by rival Aon over allegations that Mr. Burwell violated a two-year non-compete agreement because he had access to Aon trade secrets in his role as a consultant helping restructure the company. The lawsuit ... seeks to prevent Mr. Burwell from working for Willis Towers Watson for two years and is seeking $75 million in damages. It accuses both Willis Towers Watson and Mr. Burwell of violating the Illinois trade secrets act. It also accuses Mr. Burwell of breaching his fiduciary duty and Willis Towers Watson of unfair competition."

District Court Narrows Focus of Antitrust Suit Over $30 Billion Aon-Willis Merger

"A federal judge has narrowed the scope of a [DOJ] lawsuit blocking the proposed $30 billion merger of insurance brokers Aon PLC and Willis Towers Watson PLC, allowing the companies to finalize remedies for three of five issues raised by the antitrust regulator. The impending trial on the remaining issues, set to start in November, will focus on whether large U.S. businesses would face diminished competition when seeking two categories of insurance: property, casualty and financial risk coverage; and health-and-benefit coverage for employees[.]" [U.S. v. Aon and Willis Towers Watson, No. 21-1633 (D.D.C. Jul. 20, 2021)]

Cambridge Retirement System Sues Willis Towers Watson Over Merger

"Cambridge (Mass.) Retirement System filed a class-action lawsuit against Willis Towers Watson and other defendants for allegedly violating provisions of the Exchange Act in connection to the merger between Towers Watson & Co. and Willis Group Holdings. The suit alleges that defendants issued false and misleading statements in proxy materials filed with the U.S. [SEC] prior to the merger, which closed on Jan. 4, 2016."

Willis Acquires Towers Watson -- Is There More to This Story?

"Back in 2011 Aetna CEO Mark Bertolini made the comment, 'Not too far away from now -- in the next 6-7 years -- 75 million Americans will be retail buyers of healthcare. And they'll come to the marketplace with their own money and either a subsidy from their employer or a subsidy from their government. And it doesn't much matter -- they'll be spending their money.' Since then Aetna has been acquiring technology companies including bswift that has built 'exchange' capabilities. Bertolini thinks healthcare will be individually purchased. Aetna buys exchange technology. Towers Watson buys exchange technology. Willis buys Towers Watson. Are these events part of the same story?"

Willis Health Care Reform Survey Report 2014 (PDF)

36 pages. "[E]mployers noted that they still feel that it is important to continue to offer benefits to their employees, although their distribution and delivery methods may change. Most employers' benefit structures for 2014 are similar to those of 2013 with many employers taking a 'wait and see' approach before making significant changes to their delivery model ... Almost half of respondents have already increased or plan to increase dependent coverage contributions at a higher rate than employee only coverage. Over one third (35%) of respondents have already applied, or plan to apply, a surcharge on spousal coverage (or exclude coverage) when spouses have coverage through their own employer."

The Willis Health and Productivity Survey Report 2014 (PDF)

"68% have some type of wellness program.... 54% are implementing a high deductible health plan in an effort to address rising health care costs. 64% provide employees with tools and resources to become better consumers.... 44% use third-party wellness vendors. 78% of organizations with a wellness program said that they used some sort of incentive to drive participation. 49% of those with a wellness program reported a measurable improvement in either medical costs or health risks."

Willis Health Care Reform Survey 2012-2013 (PDF)

"The goals of this year's survey were to identify: [1] What elements of Health Care Reform have affected employer cost (positively or negatively); [2] The strategies employers are using in offering/designing benefits; [3] The extent to which employers are retaining grandfathered status; [4] The expectations of employers regarding: [a] What they believe similar companies will do in reaction to Health Care Reform and [b] What plan design changes survey respondents expect to make as a result of Health Care Reform."

The Willis Health and Productivity Survey, 2010 (PDF)

Of those that participated in the survey, about half (43%) indicated that they had some type of wellness program. Of those with a wellness program: 57% describe their program as basic; 33% had an intermediate program; 10% had a comprehensive program.