Oct 1 (Reuters) - Willis Tower Watson said on

Tuesday it would sell its direct-to-consumer insurance

distribution business to private equity firm GTCR for $632.4

million.

The London-based insurance broker had bought the unit,

'Tranzact', for $1.2 billion in 2019 to expand its footprint in

the market for government-supported Medicare insurance plans.

The company expects the deal will result in non-cash pre-tax

losses and related impairment charges of between $1.6 billion

and $2.1 billion, which will be recorded in the third quarter

this year.

"With the sale of Tranzact, we are exiting this

direct-to-consumer market and accelerating our progress toward

our long-term free cash flow margin goals," Willis Tower CEO

Carl Hess said.

BofA Securities and Lazard are financial advisors to Willis

Tower for the deal.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by

Anil D'Silva and Leroy Leo)