Global insurance and reinsurance broker WTW has completed its acquisition of San Francisco-based Newfront, a deal valued at $1.3bn, including upfront and contingent consideration.
The move strengthens WTW’s presence in the US middle market and expands its exposure to high-growth sectors including technology, FinTech and life sciences.
Newfront adds a technology-enabled broking platform, supported by a growing producer base, proprietary client-facing tools, and advanced automation and agentic AI.
The transaction, which was first announced earlier this year, will see Newfront’s operations integrated into WTW’s existing business lines. Newfront’s Business Insurance segment will merge with WTW’s Risk & Broking division, while its Total Rewards business will be combined with WTW’s Health, Wealth & Career segment.
Newfront’s team will join WTW following completion, including co-founder and CEO Spike Lipkin. Lipkin will focus on integration, client development, talent acquisition and technology as the businesses are combined.
WTW CEO Carl Hess said, “We are excited to welcome Newfront to the WTW team. Combining Newfront’s cutting-edge, technology-enabled broking model and expertise in high-growth industries with WTW’s global footprint, specialty strategy and established analytics and broking platforms will enhance our delivery of innovative and efficient solutions to our clients. This milestone represents an important step in executing our strategy as we enhance our competitive differentiation and create long-term value for all our stakeholders.”
J.P. Morgan Securities LLC acted as exclusive financial advisor to WTW, with Weil, Gotshal & Manges LLP serving as legal counsel. Perella Weinberg advised Newfront on the transaction, with legal counsel provided by Reed Smith LLP.
The acquisition supports WTW’s strategy to combine technology-enabled broking with global scale, as it looks to deliver more integrated solutions across complex and rapidly evolving markets.
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