Filed Under:, Investigative

Aon Approves London Move

NU Online News Service, March 16, 4:10 p.m. EDT

Shareholders approved, by an overwhelming majority, insurance broker Aon’s plan to move its company headquarters from Chicago to London.

An Aon spokesman says the vote in favor of the move was completed today at a shareholders meeting that officially finished late this afternoon.

Of the 82 percent of outstanding shares that were voted, 98 percent of the shares voted in favor of the plan, an Aon spokesman says.

The firm needed 67 percent of outstanding shares in order to hold a quorum on the matter.

The move, which will locate a number of senior executives to London, is expected to be completed by the end of March or early April, the spokesman says.

Earlier this year, Aon announced it was moving to London to be closer to the Lloyd’s market, but the move would not result in any job losses.

The move would give the company access to more than $300 million in cash sitting on its overseas and reduce its corporate tax rate, something looked on favorably by at least one rating agency.

It is also expected that once the move is completed, the firm should see an increase in its share price since that will eliminate some concerns about capital gains tax.

Top Story

5 basic personality types all agents should know, and how to sell to them

Are you dealing with an Agreeable Amelia or a Nail-Biting Norbert? Learn how to communicate with different personality types.

Top Story

Here are the 10 worst terrorist attacks of all time in terms of insured losses

As Congress continues to delay renewal of the federal Terrorism Risk Insurance Program Reauthorization Act, it's a good time to consider the continuing risk of terrorist-related losses, due to new threats from extremist groups like ISIS and others.

More Resources

Comments

eNewsletter Sign Up

Forensic Insider eNewsletter

Reduce litigation expenses and enhance investigative acumen with forensic news & commentary. Sign Up Now!

Mobile Phone
         
Close

Advertisement. Closing in 15 seconds.