Aon Sells Insurance Cos. To ACE & Munich Re

Chicago-based Aon said it will sell Combined Insurance Company of America, based in Glenview, Ill., for $2.4 billion in cash to Bermuda-based ACE. Combined Insurance is an underwriter and distributor

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Aon insurance brokerage is selling its two insurance companies for close to $3 billion to ACE Limited and Munich Re Group in an all cash deal.

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