Analysts said Aon Corporation's announcement that it is seeking to sell its property-casualty business comes as no surprise and sale of the unit could be worth as much as $1.5 billion.
The Chicago-based insurance brokerage firm said it is exploring strategic alternatives relating to the ownership of its warranty, credit insurance and property-casualty underwriting businesses.
Greg Case, Aon's president and chief executive officer, said in a statement that, "By exploring alternatives, we expect to determine if the potential of our warranty, credit and property-casualty businesses can be more fully realized under different ownership."
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