Aon Corporation
Written By ibid on Sunday, August 21, 2011 | 1:18 AM
Aon Corporation 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 In July 2007, Aon Corp. was ranked as the world's second largest insurance broker.
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 August 22, 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.Today, the company is best known internationally as the principal sponsor of English Premier League team, Manchester United.
On July 12, 2010, Aon announced that it has agreed to buy Lincolnshire, Illinois, based Hewitt Associates for $4.9 billion in cash and stock.
On July 19, 2011, Aon announced that it bought Westfield Financial Corp., the owner of insurance-industry consulting firm Ward Financial Group, from Ohio Farmers Insurance Co. Financial terms were not disclosed
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