Aon
Aon is a global professional services firm providing a broad range of risk, retirement and health solutions. Employing 50,000 colleagues in 120 countries Aon seeks to use proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon’s fast-paced growth began in 1982 when the Ryan Insurance Group merged with Combined International Corporation.
Throughout the 1980s and 1990s, acquisitions and organic growth fueled Aon’s expansion in the global insurance marketplace. Buys have included Minet Group, Alexander & Alexander [both in 1997] and Benfield [2008].
Biba 2011: Contingent Commissions not a “big deal” for Aon
Aon president Greg Case has stressed the issue of contingent commissions in the US were never a major issue as the broker instead focuses on “transparency” it offers its clients.
Market moves: a clean swoop is the trend for teams
It used to be that individuals would leave one company to join another and miraculously several colleagues would appear by their side a few months later.
Aon survey ranks top 10 business risks
Global business leaders identified economic risk as the greatest threat they faced today, according to the findings of Aon’s 2011 Global Risk Management Survey.
Regulatory burden on brokers is heavier than tax
The British Insurance Brokers’ Association (Biba) has warned that the regulatory burden imposed by the Financial Services Authority (FSA) on the insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays.
New player enters high end liability market
Lloyd’s broker Kite Warren & Wilson (KWW) is targeting the high end SME asset manager and Lloyd’s managing agents market with a suite of new liability products.
Regulation costs three times more in UK than rest of EU
The British Insurance Brokers’ Association (Biba) has made the first real attempt since regulation was first applied to general insurance brokers to quantify just what it costs for brokers to remain compliant.
Aon responds to Hector Sants’s financing call
Aon has called for the nature of risks posed by a firm to be taken into account when the FSA calculates fees.
Broker Network and Countrywide make two hires after record growth
Broker Network and Countrywide have claimed the 19 members signing up in 2011 so far was the result of “extraordinary” levels of new membership enquiries totalling an additional £40m of annualised gross written premium.
Market moves: Recruitment drive shows positive outlook
The actions of the insurance industry seem to indicate it is refreshingly optimistic about the prospects for UK plc. Despite the phrase 'double-dip' re-entering the popular consciousness, insurance has stormed ahead with determination to grow its way to…
Willis exec jumps ship for rival broker
Executive director and major client advocate at Willis Finex Global, Mike Earp, has resigned to take up a senior post at Aon, Insurance Age understands.
Aon announces fall in UK broking income
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
Prime Professions hits back
Prime Professions has rejected claims it is struggling financially and had been in discussions with Aon about a takeover late last year.
Product launch: Extended brand protection
Aon Risk Solutions has launched a restaurant contamination insurance policy that it claims offers a new level of brand protection for mid-sized chains.
Santa’s insurance cost falls to £25m, according to Aon
While Santa has been dusting off his sleigh, making sure the reindeer are in tip-top shape and asking his elves to put in overtime to finish off all the presents to make sure every child across the globe gets a present, Aon has been calculating the cost…
Marsh lures Tunnicliffe back from Aon
Andrew Tunnicliffe is to rejoin Marsh as UK head of Marsh Risk Consulting.
News review: November 2010
IAG UK-owned broker Barnett & Barnett almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.
Threat of enforced commission disclosure fades as European bodies follow UK lead
An agreement between European broker and risk management associations is the clearest sign yet that the revised Insurance Mediation Directive (IMD) will opt for commission disclosure on request rather than making it compulsory, according to regulatory…
Focus - Broker funding: Finding your way through
With the major banks still cautious about lending, brokers are finding it tough to access funding for growth. Rachel Gordon looks at the options.
Technology - 2010 retrospective: Software houses moving forward steadily
This year, most of the key players in technology were pleased with steady progress, keeping close to existing clients in a tough economic environment for brokers, writes Andrew Tjaardstra.
Heath Lambert expands projects risks division
Heath Lambert has announced a series of appointments and promotions designed to strengthen the offering of its project risks division.
News: Large-scale pension reforms loom
If you do not have a pension scheme in place, then now is the time to act, as a series of state-mandated reforms is set to bite following the Spending Review.
Product launch: Aon water utility product
Aon has launched an insurance product for water utility companies.
Aon Q3 results show 8% fall in UK broking revenue
Aon has announced that income from its risk and insurance brokerage in the UK fell 8% to $148m for the third quarter of 2010 [Q3 2009: $167m].
Oxygen poaches two senior hires from Aon to boost construction arm
Oxygen Insurance Brokers (Oxygen) has hired two new senior brokers as part of its plan to target further growth in the construction related professions.