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February 15, 2012updated 13 Apr 2017 8:46am

Aon migrates to the UK

In a major endorsement of Londons standing as a global financial centre, Aon has announced that it is to move its corporate headquarters from Chicago to London

By LII editorial

In a major endorsement of London’s standing as a global financial centre, Aon has announced that it is to move its corporate headquarters from Chicago to London. Chicago will continue as headquarters of the Americas for Aon, the world’s largest reinsurance broker and second-largest insurance broker.

According to Aon, there are a number of reasons for its decision to move its headquarters.

They include greater access to emerging markets, the ability to take better advantage of the strategic proximity to Lloyd’s and London’s status as one of the key international hubs of insurance and risk brokerage.

“The decisions we make today will help drive our global strategy and strengthen our growth opportunities in the years to come,” Aon CEO Greg Case said in a release.

Aon believes the move to London will have several other near- and long-term financial benefits, including increased financial flexibility and improved capital allocation.

Another significant aspect of Aon’s shift from Chicago to London is a decision to change its jurisdiction of incorporation from the US state of Delaware to England. This aspect of its strategy will require shareholder approval.

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