In an effort to strengthen its global construction broking capability, Aon Risk Services, the risk management and insurance brokerage business of Aon Corp., has signed a definitive agreement to acquire Allied North America. Financial terms of the acquisition were not disclosed. Closing is expected by year’s end.
“Through the increased broking capability provided by Allied North America, we are enhancing our global construction powerhouse as well as our abilities to better serve our clients and grow our business around the world,” says Gregory Case, president and CEO of Aon Corp.
Peter Arkley, chairman and CEO of Aon’s global construction business and Aon Construction Services Group, says, “Aon’s acquisition of Allied North America brings together the two premier U.S. construction brokerage firms to create a specialty construction brokerage unmatched in depth of talent. The combined organization will have unprecedented leadership, market access and technical knowledge that will provide a unique asset and a tremendous opportunity for our clients.”
Bill Marino, current chairman of Allied, will assume the role of president of Aon’s global construction business and vice chairman of Aon Construction Services Group, post-acquisition.
“Pairing Allied’s solid relationship with leading construction carriers, our depth in surety and risk management as well as our professional safety services with Aon’s existing talent and intellectual capital enhances our collective position as the leading risk management partner to the construction industry,” Marino says.
Aon Construction Services Group’s operating model will allow the combined entity to serve contractors with industry-leading expertise on a local basis in every region of the United States. In addition, the ARS global network will empower the team to better serve international clients.
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