Aon Corporation
| Aon plc | |
|---|---|
| Founded | 1982 |
| Founder | Patrick G. Ryan |
| Headquarters | Dublin, Ireland |
| Global Operations Headquarters | London, England |
| Industry | Professional services Insurance brokerage |
| Stock symbol | NYSE: AON |
| Services | Insurance brokerage Risk management |
| Website | aon.com |
Aon plc is a multinational professional services firm specializing in insurance brokerage, risk management, reinsurance, health consulting, retirement consulting, and human capital advisory services.[1] The company is among the world's largest insurance and reinsurance brokers.[2]
Aon serves corporations, governments, financial institutions, non-profit organizations, and other clients throughout the world, helping them manage financial, operational, legal, and insurance-related risks.[3]
History
Aon's modern history began in 1982 when the Ryan Insurance Group merged with Combined International Corporation under the leadership of Patrick G. Ryan.[4]
The company adopted the name Aon in 1987. The name is derived from a Gaelic word meaning "one".[5]
During the 1980s and 1990s, Aon expanded rapidly through acquisitions and became a major participant in the global insurance marketplace.[6]
Among its more significant acquisitions were:
- Alexander & Alexander
- Rollins Burdick Hunter
- Benfield Group
- Hewitt Associates
These acquisitions expanded Aon's capabilities in commercial insurance, reinsurance, employee benefits, retirement consulting, and risk management services.[7]
Business Activities
Aon provides services in two principal areas:
Risk Capital
The firm's Risk Capital division advises clients on:
- Insurance placement
- Reinsurance placement
- Catastrophe risk
- Enterprise risk management
- Cybersecurity risk
- Capital solutions
Human Capital
The Human Capital division provides services related to:
- Employee benefits
- Health insurance
- Retirement planning
- Pension consulting
- Workforce strategy
- Executive compensation
The company advises many of the world's largest corporations as well as government agencies and international organizations.[8]
World Trade Center
Aon Corporation was one of the largest corporate tenants affected by the terrorist attacks of September 11, 2001.
Its subsidiary, Aon Risk Services, occupied offices in the South Tower (Two World Trade Center). Numerous employees were killed when the tower collapsed following the attack by United Airlines Flight 175.
The attacks represented one of the largest single-event losses in the history of the insurance and risk-management industries.
Insurance and Risk Management
Aon is a major participant in the global insurance market and acts as an intermediary between insurers and policyholders. The company assists organizations in identifying, quantifying, and managing risks related to natural disasters, terrorism, financial instability, litigation, health costs, cyberattacks, and other operational threats.
Because of its involvement with major corporations, governments, and international markets, Aon occupies a significant position within the global risk-management and insurance sectors.
See also
References
- ↑ Aon, Corporate Information, https://www.aon.com/en/about/leadership-and-governance/corporate-information
- ↑ Aon, History and Facts, https://www.aon.com/taiwan/about-aon/company-overview/history-facts.jsp
- ↑ Aon, Corporate Information, https://www.aon.com/en/about/leadership-and-governance/corporate-information
- ↑ Aon, History and Facts, https://www.aon.com/taiwan/about-aon/company-overview/history-facts.jsp
- ↑ Aon plc company history.
- ↑ Aon, History and Facts, https://www.aon.com/taiwan/about-aon/company-overview/history-facts.jsp
- ↑ Aon, History and Facts, https://www.aon.com/taiwan/about-aon/company-overview/history-facts.jsp
- ↑ Aon, Corporate Information, https://www.aon.com/en/about/leadership-and-governance/corporate-information