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

Ferguson protests spread nationwide

Ferguson, Mo. isn't the only place where people are protesting the grand jury decision not to indict police officer Darren Wilson in the shooting death of Michael Brown.

Top Story

Ferguson burning: 9 scenes of property damage in the wake of the riots

A grand jury in Ferguson, Missouri on Monday declined to indict a local police officer in the August 2014 shooting death of 18-year-old Michael Brown, setting off a night of violent riots in the suburban St. Louis community. Here's the aftermath.

More Resources

Comments

eNewsletter Sign Up

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Mobile Phone
         

Advertisement. Closing in 15 seconds.