Activism in the Insurance Sector

Willis Towers Watson seen ripe for overhaul as post-Aon upside deemed activism catalyst 15 September 2021 Activism in the Insurance Sector

Pablo Mayo Cerqueiro of Mergermarket pens an article on the increased activism in the Insurance Sector. As suggested by Mergermarket, Willis Towers Watson could be ripe for an overhaul as a failed attempt to merge with rival Aon has created an opportunity for activists to seek value creation, according to sector watchers and a minority shareholder.

London-based activist hedge fund TCI was recently reported to have subtly built a position in the global insurance broker, having previously targeted other blue-chip names in the financial services industry such as ABN Amro and Deutsche Börse. TCI has yet to confirm the reports, but talk of an activist looking to shake up the group has hardly come as a surprise, sector watchers indicated.

“What we would expect is for an activist to remain in ‘stealth mode’ and exert their pressure in a constructive manner – most likely in private – by presenting strategic options to management,” said Andrew Brady, senior analyst at shareholder advisory firm SquareWell Partners.

Full article only available to Mergermarket subscribers.


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