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Aon withdraws New Zealand merger application for Willis Towers Watson deal

( July 28, 2021, 03:58 GMT | Official Statement) -- MLex Summary: Insurance broker Aon has withdrawn its request for merger clearance in New Zealand, after the company and rival Willis Towers Watson agreed to terminate their merger agreement, citing an "impasse" with the US Department of Justice. In a statement today, the New Zealand Commerce Commission said it had scrapped plans to announce a decision on the merger application by Aug. 20. In New Zealand, Aon and Willis Towers Watson both provide broking services including for commercial risk, reinsurance, group health and welfare benefits, and personal and life insurance. Both firms also provide investment consulting services to institutional investors.The full statement from the New Zealand competition regulator follows: ...

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