Chicago —Aon Corp. and Benfield Group Ltd. have signed an agreement under which Aon will acquire the London-based reinsurance intermediary for $1.75 billion.

Following the close of the transaction, which, pending regulatory approval, is expected by the end of 2008, Aon intends to integrate the Benfield business with its existing reinsurance operations (Aon Re Global) and operate the division globally under the newly created Aon Benfield Re brand. The companies say that their reinsurance operations are highly complementary.

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