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Buying Willis Towers might enable Aon to overtake Marsh & McLennan Cos. as the world's largest brokerage by revenue.
It will consider selling GLAIC in parts if it cant find a buyer for the entire unit, according to people familiar with the matter.
Axa SA is exploring the sale of a U.S. subsidiary that shoulders risks tied to variable annuities, as Europes second-largest insurer narrows its focus in North America.
The transaction would include retirement products known as variable annuities, said sources, who asked not to be identified.