Following the closing of its acquisition of the UK-based Benfield Group, Aon has announced that it has created a new global specialty business unit – Aon Specialty. The bulletin described the new operation as “a strategic move designed to take advantage of the firm’s
decision earlier this year to pull together Aon’s $5 billion in retail revenue, 26,000 colleagues and $54 billion in annual premium throughput into one global team designed to best serve clients.”
President and CEO Greg Case noted: “Aon Specialty builds on the momentum of our Benfield acquisition. This business unit will leverage the strong specialty talent within Aon with the strong talent within the former Benfield Corporate Risk division to bring unmatched global solutions to our construction, energy, marine, space and aviation clients.”
Benfield’s former CEO Grahame Chilton will serve as Aon Specialty’s chairman. He will work closely with Peter Harmer, CEO of Aon’s UK operations, and Michael R. Moran, the newly appointed chief operating officer of the group.
“Additionally, the new Specialty business will operate with a Board of Directors made up of some of Aon’s most senior brokerage professionals and will work directly with the Global Aon Risk Services (ARS) Executive Committee made up of Aon leaders from around the globe,” said the announcement.
“We have made tremendous progress in pulling our Global Retail assets together to serve clients around the world in the most coordinated fashion,” stated ARS chairman and CEO Steve McGill. “The announcement of Aon Specialty is the next logical strategic move.”
Source: Aon Corporation – www.aon.com
Topics Commercial Lines Excess Surplus Business Insurance New Markets Aon
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