Profile: Aon PLC (AON.N)
22 Mar 2017
Aon plc, incorporated on December 8, 2011, is a provider of risk management services, insurance and reinsurance brokerage, and human resource (HR) 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 operates through two transactional product lines: retail brokerage and reinsurance brokerage. In addition, a component of the Risk Solutions business is its risk consulting services. Retail brokerage includes the Company's retail brokerage services, affinity products, managing general underwriting, placement, captive management services, and its Inpoint data and analytics solutions. It offers specialized advice and services in industries, such as technology, financial services, agribusiness, aviation, construction, healthcare and energy. Through its global affinity business, it provides products for professional liability, life, disability income and personal lines for individuals, associations and businesses around the world. Its health and benefits consulting practice advises clients about structuring, funding and administering employee benefit programs, which attract, retain and motivate employees. Its Cyber Solutions Group identifies and protects clients' critical assets by aligning their cybersecurity strategy with their corporate culture and risk tolerance.
The reinsurance brokerage offers advisory services in program design and claim recoveries intended to enhance the risk/return characteristics of insurance policy portfolios, manage capital utilization, and evaluate and mitigate catastrophic loss exposures. It acts as a broker or intermediary for all classes of reinsurance. It places two main types of property and casualty reinsurance: treaty reinsurance, which involves the transfer of a portfolio of risks, and facultative reinsurance, which entails the transfer of part or all of the coverage provided by a single insurance policy. It also provides actuarial, enterprise risk management, catastrophe management and rating agency advisory services. It also provides actuarial, enterprise risk management, catastrophe management and rating agency advisory services.
The Company provides products and services in the HR Solutions segment primarily under the Aon Hewitt brand, and it operates through two similar transactional product lines: outsourcing and consulting. 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. It also provides other complementary services, such as flexible spending, dependent audit and participant advocacy. Exchanges is engaged in building and operating healthcare 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, 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
- MOVES-Credit Agricole, Aon Hewitt, KPMG, LEBC Group, Macquarie Investment
- MOVES-Aon names new EMEA head of defined contribution solutions
- Aon to sell benefits outsourcing to Blackstone for up to $4.8 billion
- UPDATE 3-Aon to sell benefits outsourcing to Blackstone for up to $4.8 bln
- BRIEF-Aon says Blackstone will pay a $215 mln termination fee if agreement is terminated