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Aon retires Risk Solutions and Benfield brands

  • Publish Date: Posted about 6 years ago
  • Author:by Alan Jarque

Aon has announced that it is integrating Aon Risk Solutions and Aon Benfield under a single brand, appointing Eric Andersen and Michael O'Connor as co-presidents of the firm.

As part of the changes, Aon will retire the firm’s remaining business unit brands, Aon Risk Solutions and Aon Benfield, and will go-to-market under the unified brand of Aon. It will also create an integrated global operating committee, co-led by Andersen (most recently CEO of Aon Benfield) and O'Connor (most recently CEO of Aon Risk Solutions).

Aon said the restructure follows the retirement of the Aon Hewitt brand last year.

In their new positions, O'Connor and Andersen will continue to report to Aon CEO Greg Case, whose contract was recently extended by the board of directors until April 2023.

Aon said that the moves are “designed to increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients.”

Aon previously announced a single P&L structure, which is part of an ongoing effort to increase colleague connectivity and accelerate reinvestment in innovation that serves clients. That effort is overseen by Aon's global CFO Christa Davies, whose contract was also recently extended to April 2023.

As part of the restructure Cary Grace, head of the retirement solutions business, will also become responsible for global M&A integration, while health solutions chief John Zern will take on the position of CEO of North America commercial risk solutions.

Aon COO John Bruno will take on the additional role of CEO of data and analytic services.

Case said the changes aim to remove “structural barriers”, enabling the firm to “innovate new sources of value” and realise its “full potential”.

"The appointment of Mike and Eric as co-presidents reflects the enormous contributions that they have made to the ongoing success of our firm. Both have proven track records and have played critical leadership roles across Aon, ensuring that they understand the breadth of our capabilities and how to bring them together to best serve our clients,” said Case.

Andersen joined Aon in 1997 and has held a number of senior roles. He was previously CEO of Aon Risk Solutions Americas before moving into the position of CEO of Aon Benfield in 2013.

O’Connor has been with Aon for a decade, most recently as CEO of Aon Risk Solutions and prior to that as COO of Aon Risk Solutions and Aon Benfield. Before joining Aon, O’Connor was a partner at McKinsey.