Aon Corp. has signed a definitive agreement to sell its claims administration business, Cambridge Integrated Services Group Inc., to Scandent Group. Aon will retain a minority financial interest. Terms of the sale were not disclosed.
Patrick Ryan, chairman and CEO of Aon Corp., said, “Clients will benefit from a combination of claims services skills and process management expertise, and we will continue to refer insurance brokerage clients to Cambridge. The sale also fulfills Aon’s objective of refocusing on its core businesses.”
Chris Sinclair, chairman of Scandent Group, added, “Scandent’s purchase of Cambridge, a world-class claims services provider, is a major step in the growth of our company. We look forward to expanding our franchise in this exciting field, especially in the U.S., U.K. and Australia. Current and potential clients will benefit from our claims processing, business process outsourcing (BPO) and information technology services.”
Cambridge employees will transfer to the new company.