Arthur J. Gallagher, an American global insurance brokerage and risk management services firm, completed the acquisition of the treaty reinsurance brokerage operations of Willis Towers Watson, a risk management, insurance brokerage and advisory company, for $4bn, consisting of $3.25bn in cash upfront and potential additional consideration of $750m subject to certain third-year revenue targets. "Broadening our reinsurance brokerage offerings has been a strategic objective at Gallagher and this acquisition will significantly enhance our global value proposition. We were very impressed with the Willis Towers Watson reinsurance professionals we met during our initial due diligence and strongly believe a combination will significantly enhance our offerings to clients and prospects. I look forward to welcoming the 2,200 new colleagues joining us as part of this transaction to our growing Gallagher family of professionals," J. Patrick Gallagher, Jr., Arthur J. Gallagher Chairman, President and CEO.