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Senior Associate Mark Kaye provided comments to The Insurer, first published Nov. 23, following Arthur J Gallagher’s (Gallagher) $3.25 billion+ acquisition of Willis Re moved a step closer to completion following the UK’s Competition and Markets Authority (CMA) clearing the deal. In the UK the business will be sold to Gallagher via a Transfer of Undertakings (Protection of Employment), or TUPE arrangement, a mechanism used when a segment of the business has been sold and employees move from one employer to another.

Mark detailed how employees wishing to extricate themselves from long notice periods have been known to use TUPE in past cases, he noted “if a purchaser is concerned about the flight risk of key in-scope employees, it is not uncommon for the sale contract to be conditional on those identified key employees transferring with the business to the purchaser”.

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