Chicago and London — Aon Corp. today announced that it has created a new global specialty business unit—Aon Specialty—a strategic move designed to take advantage of the firm's decision earlier this year to pull together Aon's US$5 billion in retail revenue, 26,000 colleagues and US$54 billion in annual premium throughput into one global team designed to best serve clients.
"Aon Specialty builds on the momentum of our Benfield acquisition," says Greg Case, president and CEO of Chicago-based Aon Corp. "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."
Grahame Chilton, formerly CEO of Benfield Group, will serve as chairman of Aon Specialty, working closely with Peter Harmer, CEO of Aon's UK operations, and Michael Moran, the newly appointed COO 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.
"We have made tremendous progress in pulling our Global Retail assets together to serve clients around the world in the most coordinated fashion," says Steve McGill, chairman and CEO of ARS. "The announcement of Aon Specialty is the next logical strategic move."
"Aon Specialty is all about bringing the best specialty brokerage solutions in the world to some of the fastest growing areas of the global economy, including energy and construction," adds Ted Devine, president of ARS. "The addition of a very talented team from Benfield Corporate Risk demonstrates our commitment to making Aon Specialty the finest specialty brokering operation in the industry."
Source: Aon Corp.
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