Aon Corporation

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Aon Corporation (NYSEAON) is a provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. It is based in the Aon Center in Chicago Loop Illinois, United States.[3] In July 2007, Aon Corp. was ranked as the world's second largest insurance broker.[4]

Aon was created in 1982, when the Ryan Insurance Group (founded by Pat Ryan in the 1960s) merged with the Combined Insurance Company of America (founded by W. Clement Stone in 1919). In 1987, that company was introduced to Wall Street as Aon, a Gaelic word meaning “oneness”. Combined Insurance was sold to ACE Limited in April 2008.

On 22 August 2008, Aon announced that it had acquired London-based Benfield Group. The acquiring price was US$1.75 billion or £935 million, with US$170 million of debt.[5] Today, the company is best known internationally as the principal sponsor of English football giant, Manchester United.[6][7]

On July 12, 2010, Aon announced that it has agreed to buy Lincolnshire, IL based Hewitt Associates for $4.9 billion in cash and stock.[8]

Contents

Corporate overview

Aon Corp. is a global provider of insurance brokerage services, insurance products, and risk and insurance advice, web based risk management information systems, as well as other consulting services. The company operates in three major segments: commercial brokerage, consulting services, and consumer insurance underwriting. Aons Corp.'s brokerage unit, Aon Risk Services, provides retail property/casualty, liability, and other insurance products for groups and businesses, as well as risk management services. Aon Re Global handles reinsurance brokerage services for aviation, marine, energy, professional liability, and other niche and specialty business lines. Its consulting unit, Aon Consulting Worldwide, specializes in employee benefits administration. The risk and insurance brokerage segment accounted for 82% of total revenue from continuing operations in 2007, and the consulting segment accounted for 18%.[citation needed]

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