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"Broadening our reinsurance brokerage offerings has been a strategic objective at Gallagher and this acquisition will significantly enhance our global value proposition," J. Patrick Gallagher, Jr., Gallagher chairman, president and CEO, said (Credit: Vittaya_25/Adobe Stock) “Broadening our reinsurance brokerage offerings has been a strategic objective at Gallagher and this acquisition will significantly enhance our global value proposition,” J. Patrick Gallagher, Jr., Gallagher chairman, president and CEO, said (Credit: Vittaya_25/Adobe Stock)

Willis Towers Watson (WTW) has agreed to sell Willis Re to Arthur J. Gallagher & Co. in a deal valued at $3.25 billion and includes an earnout payable in 2025 of up to $750 million in cash, WTW reported.

The transaction is expected to close no later than the end of the first quarter of 2022, according to WTW.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected], and on LinkedIn and Twitter.  

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