Arthur J. Gallagher terminated its acquisition of reinsurance, specialty and retail brokerage operations of Willis Towers Watson for $3.6bn.

Arthur J. Gallagher, a global insurance brokerage and risk management services firm, terminated its acquisition of reinsurance, specialty and retail brokerage operations of Willis Towers Watson, a global multinational risk management, insurance brokerage and advisory company, for $3.6bn. "This acquisition will accelerate our long-term strategy by significantly expanding our global value proposition in reinsurance, broadening our retail brokerage footprint and strengthening key niches and specialty brokerage offerings. The powerful combination of expertise, geographic reach and scale that this acquisition presents will greatly enhance our offerings to clients and prospects, while also providing significant value for our colleagues, carrier partners and shareholders. Most importantly, I look forward to welcoming more than 6k new colleagues to our growing Gallagher family of professionals," J. Patrick Gallagher, Arthur J. Gallagher Chairman, President and CEO.