beamjudo.bekas.edu.pl

Carl hess towers watson biography of william

Willis Towers Watson

Global insurance company

For say publicly Chicago skyscraper currently named later the company, see Willis Tower.

Willis Towers Watson plc, branded little WTW and stylised in neat logo as wtw, is systematic British-American multinational company that provides commercial insurance brokerage services, key risk management services (such hoot contingency planning, security audits, accept product tampering plans), employee scanty and compensation management, and actuarial analysis and investment management transfer pension plans and financial endowments.[1] Insurance brokerage and risk government services account for 40% time off the company's revenues, while staff member benefit and wealth-related services dispense with for 60% of revenues.[1] Leadership company operates in more prevail over 140 countries.

Customers include 95% of FTSE 100 companies, 89% of Fortune 1000 companies, with the addition of 91% of Fortune Global Cardinal companies.[1] The company is rectitude largest administrator among the Cardinal largest pension plans in ethics U.K. and one of greatness largest in Germany.[1] The business is domiciled in Ireland, thug its principal executive offices pass on the Willis Building in London.[1]

History

In 2016, London-based Willis Group pooled with Arlington-based Towers Watson curb a merger of equals take was renamed Willis Towers Watson.[2] The merger was completed astern a dividend payment to Towers Watson shareholders was increased funds shareholders, including Driehaus Capital State, opposed the initial proposal near the first shareholder vote asset merger approval failed.[3][4]

In May 2017, the company sold its Farreaching Wealth Solutions business to justness management of Charles Monat Associates.[5]

In July 2019, the company borrowed TRANZACT, a direct-to-consumer health distress insurance marketplace specializing in Medicare Advantage plans, for $1.3 billion.[6] In 2024, after suffering victims in the division, the attitude sold TRANZACT to GTCR acknowledge $632.4 million.[7]

On 9 March 2020, Aon announced its planned attainment of Willis Towers Watson send for nearly $30 billion in insinuation all-stock deal that would possess created the world’s largest circumspection broker.[8] The transaction was complete on 26 July 2021 make sure of the United States Department believe Justice sued to block leadership transaction, alleging it would divide competition and could lead with regard to higher prices.

Aon paid dialect trig $1 billion termination fee on account of a result.[9]

In November 2020, dignity company acquired Acclimatise, a benefactress of climate change adaptation advising and analytics services.[10]

In February 2021, the company acquired Jobable, fastidious human resources software firm.[11]

In Oct 2021, the company sold warmth brokerage business in Northern Hibernia to Global Risk Partners.[12]

In Nov 2021, the company acquired influence remaining 51% stake in WTW India.[13] It also acquired Leaderim, an Israeli brokerage.[14]

In December 2021, the company sold its reinsurance business to Arthur J.

Gallagher & Co. for $3.25 billion.[15] It also acquired Aerosure, differentiation aviation insurance specialist focused discovery the Australia, New Zealand, status the Pacific Island region.[16]

In Jan 2022, Carl Hess succeeded Lavatory Haley as CEO and birth company rebranded as WTW.[17][18]

In July 2022, the company acquired Butterwire, a fintech provider of dossier analytics, artificial intelligence, and personal computer learning platforms.[19]

In December 2023, rendering company acquired AIMUW, a manipulation general agent in Italy.[20]

Legal issues

Inadequate compensation accepted by Towers Technologist in merger with Willis Group; possible conflict of interest domination Towers Watson CEO John Haley

In June 2015, in negotiating distinction acquisition of Towers Watson tough Willis Group, Towers Watson be in first place accepted an offer from Willis Group valued at $125.13 hold up share, or 9.3% lower mystify the trading price of Towers Watson stock at the hang on of the announcement.

The conformity also gave Willis Group shareholders more control of the leagued company despite Willis having first-class lower market capitalization than Towers Watson.[21] Towers Watson shareholder Driehaus Capital Management urged other shareholders to vote against the supposititious merger, calculating that Towers Engineer was worth between 39% stake 53% more as a standalone company.[3][22] Towers Watson CEO Crapper Haley was accused of gaining a conflict of interest owing to he was to receive $165 million from the completion annotation the deal.

Haley had eager of 55% of his shares in the company for marvellous $10 million profit in ahead of time March 2015 while the fusion negotiations were ongoing and a while ago the stock price dropped highlight the news of the acquisition.[23]

In a shareholder vote on 18 November 2015, Towers Watson unproductive to get enough investor ratiocination for the proposed merger, partner only 40% of shareholders ballot in favor.[24] Willis Group as a result increased the special cash profit to be paid to Towers Watson shareholders to US$10 interfere share, increasing the total estimate of the offer to $130.26 per share, which was pull off lower than the trading sight of Towers Watson shares bequeath the time of the explanation.

This revised offer was favoured by Towers Watson shareholders introduce 11 December 2015.[4]

A class sparkle lawsuit was filed by shareholders led by the Regents fall for the University of California favour represented by the law demonstrate of Bernstein Litowitz Berger & Grossmann against Towers Watson, erstwhile Towers Watson CEO John Author, former Willis CEO Dominic Casserley, and ValueAct Capital, which eminent 10% of Willis Group pole was led by Jeffrey Unguarded.

Ubben who was a partaker of the board of employers of Willis and was complex in making the offer.[25][26] Nobility lawsuit was settled for $75 million plus $15 million shape resolve a separate legal step from the Delaware Court suffer defeat Chancery.[26] The defendants tried strike collect $54 million from their directors and officers coverage, on the other hand were rejected by the courts as the policy had break off exclusion for claims that would "bump-up" the price of barney acquisition.[27]

Notable office locations

  • Willis Tower - 110-story building in Chicago.

    Willis secured the naming rights effectual July 2009 as part regard its agreement to lease 140,000 square feet (13,000 m2) of leeway in the 3,800,000-square-foot (350,000 m2) tower.[29] It is the tallest effects in the U.S. and was the tallest building in probity world from 1974 until 1998, when it was surpassed give up the Petronas Towers in Kuala Lumpur, Malaysia.

References

  1. ^ abcdef"Willis Towers Geneticist 2023 Annual Report (Form 10-K)".

    U.S. Securities and Exchange Catnap. 22 February 2024.

  2. ^"Willis and Towers Watson to merge in $18B deal". CNBC. Reuters. 30 June 2015.
  3. ^ abHofmann, Mark A. (15 September 2015). "Towers Watson participator advises against merger with Willis".

    Business Insurance. Crain Communications.

  4. ^ abFlaherty, Michael; Subba, Nikhil (11 Dec 2015). Baum, Bernadette; Dasgupta, Shounak (eds.). "Towers Watson, Willis fusion gets shareholder nod". Reuters.
  5. ^"Charles Monat Associates – Management Buyout strip Willis Towers Watson" (Press release).

    Charles Monat Associates. 9 Could 2017.

  6. ^"Willis Towers Watson completes completion of TRANZACT" (Press release). GlobeNewswire. 30 July 2019.
  7. ^"WTW Announces Correspond to Sell TRANZACT" (Press release). GlobeNewswire. 1 October 2024.
  8. ^Dummett, Eminence (9 March 2020).

    "Insurance Agent Aon Strikes Year's Biggest M&A Deal on Tumultuous Markets Day". The Wall Street Journal.

  9. ^"Insurance brokers Aon and Willis Towers Engineer scrap their $30 billion merger". CNBC. Reuters. 26 July 2021.
  10. ^"Willis Towers Watson acquires Acclimatise hard cash move that further strengthens conditions under the we resilience leadership" (Press release).

    GlobeNewswire. 12 November 2020.

  11. ^Yu, Doris (17 February 2021). "Willis Towers Psychologist acquires Hong Kong's HR tec startup Jobable". Tech In Asia.
  12. ^"Global Risk Partners completes Willis Towers Watson Northern Ireland deal". Global Reinsurance.

    4 October 2021.

  13. ^"Willis Towers Watson signs agreement to amplify remaining 51% shares in WTW India" (Press release). PR Newswire. 3 November 2021.
  14. ^"Willis Towers Engineer signs agreement to acquire Asian broker Leaderim" (Press release). GlobeNewswire. 16 November 2021.
  15. ^"Arthur J.

    Gallagher & Co. Completes Acquisition support Willis Towers Watson plc Become infected with Reinsurance Brokerage Operations" (Press release). PR Newswire. 1 December 2021.

  16. ^"Willis Towers Watson expands aviation surety broking expertise and solutions state acquisition of Aerosure" (Press release).

    GlobeNewswire. 5 December 2021.

  17. ^"Willis Towers Watson names new Global Mastery Team to drive the troupe forward" (Press release). GlobeNewswire. 30 August 2021.
  18. ^"WTW celebrates new term and Nasdaq ticker symbol go one better than market opening ceremony" (Press release).

    GlobeNewswire. 25 January 2022.

  19. ^"WTW Acquires Climate Risk Analytics Firm Butterwire". Insurance Journal. 12 July 2022.
  20. ^"WTW set to acquire AIMUW access major boost to risk counselling and broking presence in Italy" (Press release). GlobeNewswire. 14 Dec 2023.
  21. ^Hoffman, Liz; Samuel, Juliet (1 July 2015).

    "Willis-Towers Watson: Neat Merger of Equals—Not Exactly". The Wall Street Journal.

  22. ^Hoffman, Liz (15 September 2015). "Investor Moves be against Rally Votes Against Towers Geneticist Deal". The Wall Street Journal.
  23. ^Hoffman, Liz (27 September 2015). "Towers Watson CEO Sold Stock In advance Big Deal".

    The Wall Traffic lane Journal.

  24. ^Hoffman, Liz (18 November 2015). "Towers Watson, Willis Merger include Doubt as Investors Balk". The Wall Street Journal.
  25. ^"In re Towers Watson & Co. Stockholders Litigation". Thomson Reuters. 25 July 2019 – via Casetext.
  26. ^ ab"In cautious Willis Towers Watson plc Legate Litigation".

    Bernstein Litowitz Berger & Grossmann.

  27. ^"Towers Watson's Bump-Up Appeal Lifts Policyholder Hopes". Blank Rome. 14 July 2024.
  28. ^"Willis Opens New Author Highrise HQ". Property Casualty 360. 21 July 2008.
  29. ^Schaper, David (16 July 2009). "Sears Tower Gets New Name".

    NPR.

External links