Xchanging takes over Aon's XBS share

Xchanging now fully owns Xchanging Broking Services (XBS), after Aon signed over its share.

Xchanging signed a deal with Aon in 2006 giving them joint ownership of the company.

The original deal created a company to provide functions such as policy processing and claims handling for brokers. It involved outsourcing Aon’s client operations division to XBS. Xchanging’s service contract with Aon will continue unaffected after the signover.

Xchanging chief executive Ken Lever said: “As we set out in our four part action plan, simplifying our overall business structure is one of our objectives. Gaining 100% ownership of Xchanging Broking Services contributes towards this objective.”