(Corrects final paragraph to clarify that Aon was the proposed seller, not Willis Towers Watson.)
NEW YORK (Reuters) - Insurance broker Willis Towers Watson PLC said on Tuesday it is weighing strategic alternatives for its reinsurance unit, Willis Re, days after a planned sale to rival Arthur J. Gallagher fell through.
Willis and broker Aon PLC had planned to merge to create the world’s largest insurance broker, topping current leader Marsh & McLennan Companies Inc.
As part of the merger, European regulators demanded the sale of Willis Re to preserve competition, and Gallagher had agreed to buy it and other assets for about $3.6 billion.