Profile: Aon PLC (AON)
24 Aug 2016
Aon plc, incorporated on December 8, 2011, is a provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. The Company operates through two segments: Risk Solutions and HR Solutions. The Risk Solutions segment acts as an advisor and insurance and reinsurance broker, helping clients manage their risks, through consultation, as well as negotiation and placement of insurance risk with insurance carriers through its global distribution network. The HR Solutions segment partners with organizations to solve their human capital and related financial challenges in the areas of health, retirement and talent. The Company is engaged in designing, implementing, communicating and administering a range of human capital, retirement, investment consulting, healthcare, compensation and talent management strategies.
The Risk Solutions segment provides risk and insurance, as well as reinsurance, brokerage and related services, through transactional product lines: retail brokerage and reinsurance brokerage. In addition, a component of the Risk Solutions business is the Company's risk consulting services. Retail brokerage includes the Company's retail brokerage services, affinity products, managing general underwriting, placement, captive management services and data and analytics, such as its Global Risk Insight Platform (GRIP). The Company offers specialized advice and services in the industries, such as technology, financial services, agribusiness, aviation, construction, health care and energy. Through the Company's global affinity business, it provides products for professional liability, life, disability income and personal lines for individuals, associations and businesses around the world. The Company is a provider of risk consulting services, including captive management. Its health and benefits consulting practice advises clients about structuring, funding, and administering employee benefit programs, which attract, retain, and motivate employees.
The reinsurance brokerage offers advisory services in program design and claim recoveries intended to enhance the risk/return characteristics of insurance policy portfolios, improve capital utilization, and evaluate and mitigate catastrophic loss exposures. The Company acts as a broker or intermediary for all classes of reinsurance. It also provides actuarial, enterprise risk management, catastrophe management and rating agency advisory services. The Company also provides actuarial, enterprise risk management, catastrophe management and rating agency advisory services. The Company holds funds on behalf of clients, such as premiums received from clients and claims due to clients that are in transit to and from insurers.
The Company provides products and services in HR Solutions segment primarily under the Aon Hewitt brand. The HR Solutions offers a range of human capital services in the practice areas, such as retirement, compensation, strategic human capital, investment consulting, benefits administration, exchanges and human resource business process outsourcing (HR BPO). Retirement specializes in providing global actuarial services, defined contribution consulting, pension de-risking, tax and Employee Retirement Income Security Act (ERISA) consulting, and pension administration. Compensation focuses on compensation advisory/counsel, including compensation planning design, executive reward strategies, salary survey and benchmarking, market share studies and sales force effectiveness assessments. Strategic Human Capital delivers advice to global organizations on talent, change and organizational effectiveness issues, including talent strategy and acquisition, executive on-boarding, performance management, leadership assessment and development, communication strategy, workforce training and change management. Investment consulting advises public and private companies, other institutions and trustees on developing and maintaining investment programs across a range of plan types, including defined benefit plans, defined contribution plans, endowments and foundations. Benefits Administration is engaged in defined benefit, defined contribution, and health and welfare administrative services. Exchanges is engaged in building and operating health care exchanges that provide employers with an alternative to traditional employee and retiree healthcare. HR BPO provides traditional and cloud-based solutions to manage employee data, administer benefits, payroll and other human resources processes, and record and manage talent, workforce and other core HR process transactions.
The Company competes with Marsh & McLennan Companies, Inc., Willis Towers Watson Public Limited Company, Arthur J Gallagher & Company and Jardine Lloyd Thompson Group plc.
The Leadenhall Building
122 Leadenhall Street
LONDON EC3V 4AB
Company Web Links
- BRIEF-Aon posts Q2 earnings of $1.01/share
- MOVES-Alison Trusty joins Aon Hewitt as hedge fund researcher
- MOVES-Matthew Fletcher joins Aon Hewitt's risk settlement group
- Pension Insurance Corp completes $1.3 bln pension deal for Aon
- BRIEF-AON Plc CEO's FY 2015 total compensation $29.7 mln vs $14 mln in FY 2014