Filed Under:Claims, Catastrophe & Restoration

Aon Completes London Move

NU Online News Service, April 2, 10:41 a.m. EDT

Insurance broker Aon announced today it has completed the move of its corporate headquarters to London.

In a brief announcement this morning, Aon says it has completed its domicile from Delaware to the United Kingdom. The company is now converting its outstanding shares of Aon Corp. into Class “A” Ordinary Share of Aon plc. The shares will be traded on the New York Stock Exchange under the Symbol “AON” beginning today.

In January, Aon said it planned to move its corporate headquarters from its hometown, Chicago to London to be closer to the Lloyd’s market and emerging markets.

The move would also allow the company tax advantages on foreign capital and access to more than $300 million overseas cash sitting on its books.

Shareholders approved the move by an overwhelming vote on March 16.

In a filing with the Securities and Exchange Commission last week, Aon said it was extending the employment agreement of its Chief Financial Officer Christa Davies through March 31, 2017. Her original contract expired in November of this year.

Davies joined Aon in March of 2008 after a career with Microsoft.

There was no increase in her base salary of $800,000, but her share in the performance incentive program was increased and valued up to $6 million.

Top Story

5 things drivers need to know before working for a ridesharing service

Uber, Lyft and Sidecar drivers pose major insurance risks to passengers and themselves.

Top Story

Cyber risk jumps to No. 2 on Travelers Business Risk Index

Up from fifth place last year, cyber risks ranked as the second biggest concern for all businesses.

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.