Last year, Aon and Willis Towers Watson pulled the plug on a proposed combination less than 24 hours after preliminary talks leaked. (Credit: Brent Lewin/Bloomberg) Last year, Aon and Willis Towers Watson pulled the plug on a proposed combination less than 24 hours after preliminary talks leaked. (Credit: Brent Lewin/Bloomberg)

(Bloomberg) — Aon Plc agreed to buy Willis Towers Watson Plc in an almost $30 billion transaction that combines the world's second- and third-biggest insurance brokerages.

The all-stock deal, the largest ever for the industry, comes almost exactly a year after previous talks between the two companies broke down. Aon CEO Greg Case and Chief Financial Officer Christa Davies will lead the combined company, according to a statement.

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