Aon Insurance: Comprehensive Coverage For Your Needs

Aon is a global insurance broker that provides risk management and insurance products to businesses and individuals. The company was founded in 1964 by Patrick Ryan as an auto credit insurer and has since expanded through mergers and acquisitions to become one of the largest insurance brokers in the world. Aon offers a range of insurance products, including property and casualty insurance, life and health insurance, and specialty offerings. The company also provides risk analysis and financial management services to technology companies. In addition to its insurance business, Aon has faced regulatory investigations and fines for inadequate bribery and corruption controls.

Explore related products

Aeon Flux

$3.99

Kasumi Nakasu Blu-ray A-on B2 Tapestry & Bromide & Clear File

$791.21

Aeon Flux

$1.99

Aon's insurance brokering and products

Aon is a global company that provides risk, retirement, and health consulting services. The company works with organisations to help them make better decisions and protect and grow their businesses.

Today, Aon offers a wide range of insurance products, including property, casualty, life, and health insurance. The company also provides specialty offerings and insurance programs for groups and industries with complex and diverse insurance needs. Aon's insurance products are designed to help businesses and individuals manage their risks and protect their assets.

In addition to its insurance products, Aon also offers risk analysis and financial management services. The company recognises the importance of evolving risks, such as cyber attacks, climate change, and regulatory changes, and works with businesses to navigate these challenges. Aon's risk management services help organisations identify, assess, and mitigate potential risks to build resilience and drive growth.

Aon's global presence and acquisitions

Aon is a company that provides a range of insurance and financial services. It has a global presence and has made several acquisitions over the years to expand its reach and capabilities.

The company was established in 1919 as the Ryan Insurance Company and changed its name to Aon in 1987. Aon has built its global presence through strategic acquisitions. For example, in 1997, it purchased The Minet Group and the insurance brokerage firm A&A Services, Inc. In 1999, Aon expanded its global footprint by acquiring Spain's largest retail insurance broker, Gil y Carvajal, and forming Aon Korea. That same year, it also acquired the Italian insurance firm Nikols Sedgwick Group.

In 2000, Aon continued its acquisition streak by purchasing Reliance Group's accident and health insurance business. The company has a presence in over 120 countries and has averaged four acquisitions annually over the past three years, with most acquisitions occurring in the United Kingdom and the United States.

Aon's most recent acquisitions, as of November 2024, include Griffiths & Armour, an insurance broker founded in 1934 and located in Liverpool. They have also acquired Global Insurance Brokers in India and Methis Lab, a partnership with BonelliErede and CastaldiPartners.

Aon's risk management and capital

Aon is a company that provides risk, reinsurance, and human capital advisory services to organisations around the world. They have a global presence and a team of over 1,500 people who work together to help clients make better decisions and protect and grow their businesses.

Aon's risk management services focus on helping organisations understand, quantify, and mitigate their risks. They provide specialist advice and analytics to support organisations in making better risk mitigation, retention, and transfer decisions. This includes managing emerging risks such as cyber and intellectual property (IP) risks, as well as more traditional risks. Aon also assists organisations in preparing for and recovering from loss events through claim preparation and post-loss consulting services.

Aon's risk capital advisors work with clients to unlock capital and help organisations grow. They leverage data, tools, and analytics professionals to inform clients about evolving risks and build innovative capital solutions. This includes traditional insurance and reinsurance, as well as alternative risk transfer solutions like parametrics and captives. Aon's risk capital capabilities aim to enhance value for corporate clients by driving investment and scaling industry expertise and connections.

Aon's human capital products and advisors help clients navigate people-related challenges and create a healthier, more engaged, and productive workforce. They recognise that people are an organisation's most valuable asset but also a significant source of risk. Therefore, they advise clients on developing effective people strategies to support the success of their business.

Overall, Aon's risk management and capital services aim to provide organisations with the tools and insights they need to protect and grow their businesses in an evolving risk landscape. By leveraging data, analytics, and their global expertise, they help clients make more informed decisions and build resilience in the face of uncertainty.

Aon's human resources and talent retention

Aon is an insurance company that provides a range of insurance products and services to businesses and individuals worldwide. The company has a history of growth through acquisitions and has expanded its global presence over the years.

Regarding human resources and talent retention, Aon recognises the importance of engaged employees in reducing turnover rates. According to Aon, organisations with high levels of employee engagement are more likely to experience lower turnover rates, as engaged employees tend to stay with the company. This not only reduces recruitment and training costs but also contributes to improved performance and innovation within the organisation.

Aon's Talent Solutions division offers data-backed insights and comprehensive strategies to help organisations make effective decisions regarding their workforce. By leveraging qualitative and quantitative data analysis, Aon assists human resources professionals in evaluating and optimising their people strategies. This includes attracting, retaining, and engaging talent to create a winning workforce that supports the organisation's ongoing growth.

Aon's advisory teams work collaboratively, integrating their data and expertise to help clients align their workforce and business strategies. They emphasise the importance of having the right people in the right jobs at the right time for business success. Additionally, Aon partners with business leaders, human resources leaders, and total rewards professionals to address the challenges posed by the rapidly changing world of work, including regulatory requirements for pay equity and transparency.

Aon's global reach and extensive experience in the insurance industry enable the company to provide valuable insights and solutions for effective talent retention and workforce management. By partnering with Aon, organisations can develop targeted strategies to create a highly engaged and productive workforce, ultimately driving business success and sustaining growth in a dynamic market.

Aon's regulatory investigations and fines

Aon is a global provider of risk management services, insurance and reinsurance brokerage. In 2004–2005, Aon, along with other brokers, fell under regulatory investigation over the practice of insurance companies' payments to brokers (known as contingent commissions). These payments were thought to bring a conflict of interest, swaying broker decisions on behalf of carriers, rather than customers. Aon settled without acknowledging any wrongdoing, agreeing to pay $190 million over 30 months.

In 2009, Aon was fined £5.25 million in the UK by the Financial Services Authority (FSA). The fine was related to inadequate bribery and corruption controls. The FSA stated that between 2005 and 2007, Aon had failed to properly assess the risks involved in its dealings with overseas firms and individuals. Some of the payments made by Aon were to overseas third parties, some of which were state-owned entities or had government connections. The FSA considered that there was a significant risk that the monies might be used to bribe public officials or for other inappropriate purposes.

In response to the FSA's investigation, Aon's senior management took steps to improve internal controls and avoid further suspicious payments. This included implementing new and enhanced systems and controls, such as a written policy on anti-corruption/bribery, enhanced third-party processes and payment controls, and improved training.

In a separate case, Aon Corporation was charged by the Securities and Exchange Commission (SEC) for violations of the Foreign Corrupt Practices Act (FCPA). The SEC alleged that Aon's subsidiaries made improper payments to various parties between 1983 and 2007 to obtain or retain insurance business in those countries. Aon consented to a final judgment, agreeing to pay a total of approximately $14.5 million in disgorgement and prejudgment interest to the SEC, as well as a $1.764 million criminal fine to the US Department of Justice (DOJ).

Frequently asked questions