Global insurance and reinsurance broker WTW has completed its acquisition of San Francisco-based Newfront, a top 40 US broker, in a deal valued at $1.3 billion including upfront and contingent consideration. The acquisition was first announced earlier this year.

The deal enhances WTW’s presence in the US middle market and strengthens its position in high-growth sectors such as technology, fintech, and life sciences. Newfront brings a differentiated broking platform underpinned by a growing producer base, proprietary client-facing technologies, and advanced automation and agentic AI.

The Newfront team, including Co-Founder and CEO Spike Lipkin, will join WTW. Lipkin will focus on integration, client development, talent acquisition, and technology as Newfront’s major business segments—Business Insurance and Total Rewards—merge with WTW’s Risk & Broking (R&B) and Health, Wealth & Career (HWC) segments, respectively.

Carl Hess, CEO of WTW, 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.”

The transaction was advised by J.P. Morgan Securities LLC as exclusive financial advisor to WTW, with Weil, Gotshal & Manges LLP serving as legal counsel. Perella Weinberg acted as exclusive financial advisor to Newfront, while Reed Smith LLP provided legal advice to the company.

The acquisition is part of WTW’s broader strategy to combine technology-enabled broking with global capabilities, aiming to deliver more integrated solutions for clients across complex and rapidly evolving markets.