Aon Speciality 'builds on Benfield acquisition'
Aon 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 $5 billion in retail revenue, 26,000 colleagues and $54 billion in annual premium into one global team designed to best serve clients.
“Aon Specialty builds on the momentum of our Benfield acquisition,” said Greg Case, president and chief executive officer of Aon.
“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 chief executive officer of Benfield Group, will serve as chairman of Aon Specialty, working closely with Peter Harmer, chief executive officer of Aon’s UK operations, and Michael Moran, the newly appointed chief operating officer 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.
Clinton said: “We have made tremendous progress in pulling our global retial assets together to serve clients around the world in the most coordinated fashion,” said Steve McGill, chairman and chief executive officer 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,” added 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.”
“I am very excited about working with Greg, Steve and Ted to build the Global Specialty businesses. The alignment of the significant talent from Aon and Benfield create an unmatched opportunity for the Group."