Global re/insurance broker Aon, which has a significant presence on Bermuda, has confirmed that its $30 billion merger deal with Willis Towers Watson (WTW) has been called off after they "reached an impasse" with the US Department of Justice. The US DoJ had sued to block the mega merger last month, citing concerns over it eliminating "vital competition" in the US market. Aon CEO Greg Case said that the two companies were unable to "secure an expedited resolution of the litigation" with the DoJ, and thus have reached to the point of terminating the planned business combination agreement. Aon has agreed to pay a termination fee of $1 billion to Willis Towers Watson. At the same time, the broker has extended the contracts of Case (chief executive officer) and chief financial officer Christa Davies for an additional three years. Both their employment agreements have been extended through April 1, 2026.