Aon plans to eliminate 1,400 positions by 2007, 750 of which will be in the United Kingdom, as part of its three-year restructuring plan, the Chicago-based insurance broker said.

In its third-quarter earnings report released late yesterday, Aon said its restructuring plan, announced in the second quarter, would result in an estimated $250 million in pre-tax charges for employee termination and lease consolidation costs, asset impairments, and other costs. Annualized savings are targeted to be $150 million by 2008. Restructuring expenses amounted to $35 million in the third quarter of this year.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?

Dig Deeper



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.