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Statement Of Preliminary Issues Released For Aon/Willis Towers Watson

The Commerce Commission has published a statement of preliminary issues relating to an application from Aon plc seeking clearance to acquire Willis Towers Watson Public Limited Company as part of a global transaction.

The statement outlines the key competition issues that the Commission considers important in deciding whether or not to grant clearance to the proposed acquisition.

The Commission invites interested parties to provide comments on the likely competitive effects of the proposed acquisition. Submissions can be sent by email to registrar@comcom.govt.nz with the reference “Aon/WTW” in the subject line. Any submissions should be received by 5pm on 13 November 2020.

The Commission is currently scheduled to make a decision on the application by 11 December 2020. However, this date may be extended as the investigation progresses.

The Statement of Preliminary Issues and a public version of the application can be found on the on the Commission’s case register.
 

Background

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

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.

Further information explaining how the Commission assesses a merger application is available on our website.

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