11 Aon Chicago Company History Revealed

The Aon Corporation, a global professional services firm, has a rich and diverse history that spans over six decades. Founded in 1982 by Patrick Ryan, the company has its roots in the insurance industry, with a focus on providing risk management and consulting services to clients. Today, Aon is one of the largest insurance brokerage and consulting firms in the world, with operations in over 120 countries and a workforce of over 50,000 employees. In this article, we will delve into the history of Aon, with a specific focus on its Chicago operations, and explore the key milestones and events that have shaped the company into what it is today.

Early Years: The Founding of Aon

Aon was founded in 1982 by Patrick Ryan, who had a vision to create a company that would provide innovative risk management solutions to clients. At the time, the insurance industry was highly fragmented, with many small, regional brokers competing for business. Ryan saw an opportunity to create a national brokerage firm that could provide a wide range of services to clients, including insurance brokerage, consulting, and risk management. With a small team of employees and a limited budget, Ryan set out to build Aon into a major player in the insurance industry.

The Acquisition of Combined Insurance

In 1987, Aon acquired Combined Insurance, a Chicago-based insurance company that had been founded in 1922. The acquisition marked a significant turning point in Aon’s history, as it provided the company with a strong presence in the Chicago market and access to a large pool of talented employees. Combined Insurance had a long history of innovation, having introduced the concept of portable insurance policies, which allowed policyholders to take their insurance coverage with them if they changed jobs. The acquisition of Combined Insurance helped to establish Aon as a major player in the Chicago insurance market and provided a foundation for the company’s future growth.

Expansion and Growth: The 1990s and Beyond

Throughout the 1990s, Aon continued to expand and grow, both through organic means and through strategic acquisitions. In 1997, the company acquired Alexander & Alexander, a large insurance brokerage firm with operations in over 100 countries. The acquisition established Aon as one of the largest insurance brokerage firms in the world and provided the company with a significant presence in the global market. In the early 2000s, Aon continued to expand its operations, acquiring a number of smaller brokerage firms and consulting companies. Today, Aon is one of the largest professional services firms in the world, with operations in over 120 countries and a workforce of over 50,000 employees.

Aon’s Chicago Operations

Aon’s Chicago operations are a significant part of the company’s global business, with a large team of employees based in the city. The company’s Chicago office is home to a number of different business units, including its risk management and consulting practices, as well as its insurance brokerage operations. Aon’s Chicago team provides a wide range of services to clients, including risk management, insurance brokerage, and consulting. The company’s Chicago operations are also home to a number of innovative initiatives, including its analytical and data-driven risk management practices, which help clients to better understand and manage their risk exposures.

Some of the key services offered by Aon’s Chicago operations include:

• Risk management: Aon’s Chicago team provides risk management services to clients, including risk assessment, risk mitigation, and risk transfer.
• Insurance brokerage: Aon’s Chicago office provides insurance brokerage services to clients, including property and casualty insurance, employee benefits, and other types of insurance.
• Consulting: Aon’s Chicago team provides consulting services to clients, including human capital consulting, investment consulting, and management consulting.