Aon Risk Services Signs Definitive Agreement to Acquire Allied North America; Will Strengthen Firm's Global Construction Broking
December 07 2009 - 9:15AM
PR Newswire (US)
Addition of Privately Held Firm Enhances Global Construction
Powerhouse CHICAGO, Dec. 7 /PRNewswire-FirstCall/ -- Aon Risk
Services, the risk management and insurance brokerage business of
Aon Corporation, today announced that it has signed a definitive
agreement to acquire Allied North America, one of the largest
independent surety and construction insurance brokerage firms in
the United States. Financial terms of the acquisition were not
disclosed. Closing is expected by year's end. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO) "This
acquisition reinforces our leadership position in the construction
sector and enables us to bring additional talent and skills to the
benefit of our clients," said Steve McGill, chairman and chief
executive officer of Aon Risk Services. "We very much welcome our
colleagues from Allied to the firm." "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," added
Gregory C. Case, president and chief executive officer of Aon
Corporation. Peter Arkley, chairman and chief executive officer of
Aon's global construction business and Aon Construction Services
Group, noted, "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."
"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," said
Bill Marino, current chairman of Allied. Marino will assume the
role of president of Aon's global construction business and vice
chairman of Aon Construction Services Group, post-acquisition.
Allied's and Aon's leadership positions in their respective offices
will result in a significantly broader presence in strategic
construction markets. 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. For more information on
the partnership and to access Aon Analytics' 2009 U.S. Construction
Industry Report, visit http://www.aon.com/partnership. Follow Aon
on Twitter: http://www.twitter.com/aoncorp Sign up for News Alerts:
http://aon.mediaroom.com/index.php?s=58 About Aon Aon Corporation
(NYSE:AON) is the leading global provider of risk management
services, insurance and reinsurance brokerage, and human capital
consulting. Through its more than 36,000 colleagues worldwide, Aon
readily delivers distinctive client value via innovative and
effective risk management and workforce productivity solutions.
Aon's industry-leading global resources and technical expertise are
delivered locally through more than 500 offices in more than 120
countries. Named the world's best broker by Euromoney magazine's
2008 and 2009 Insurance Survey, Aon also ranked highest on Business
Insurance's listing of the world's largest insurance brokers based
on commercial retail, wholesale, reinsurance and personal lines
brokerage revenues in 2008 and 2009. A.M. Best deemed Aon the
number one insurance broker based on brokerage revenues in 2007,
2008 and 2009, and Aon was voted best insurance intermediary, best
reinsurance intermediary and best employee benefits consulting firm
in 2007, 2008 and 2009 by the readers of Business Insurance. For
more information on Aon, log on to http://www.aon.com/. Safe Harbor
Statement: http://aon.mediaroom.com/index.php?s=67 Media Relations
Contact Investor Relations Contact David Prosperi Scott Malchow
312.381.2485 312.381.3983
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT:
Media Relations, David Prosperi, +1-312-381-2485, , or Investor
Relations, Scott Malchow, +1-312-381-3983, , both of Aon
Corporation Web Site: http://www.aon.com/
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