Aon plc is a multinational professional services firm that provides a wide range of risk, retirement, and health solutions to clients around the world. The company has a rich history that spans over 30 years, with its roots dating back to the 1980s. In this article, we will delve into the history of Aon, exploring its humble beginnings, significant milestones, and key events that have shaped the company into what it is today.
Early Years and Founding
Aon was founded in 1982 by Patrick Ryan, who had a vision to create a company that would provide innovative risk management solutions to businesses. At the time, Ryan was working for the insurance brokerage firm, Combined Insurance Company of America, which was founded by his father. However, he saw an opportunity to create a new kind of company that would focus on providing tailored risk management solutions to clients, rather than simply selling insurance products. With a small team of employees, Ryan launched Aon, which was initially called Ryan Insurance Group.
Growth and Expansion
In the early years, Aon focused on building its client base and expanding its service offerings. The company quickly gained a reputation for its innovative approach to risk management, which emphasized the use of data and analytics to help clients identify and mitigate potential risks. As the company grew, it began to expand its operations beyond the United States, opening offices in Europe, Asia, and Latin America. In 1987, Aon acquired the insurance brokerage firm, Smith & Sidders, which gave the company a significant presence in the UK market.
| Year | Significant Event |
|---|---|
| 1982 | Aon founded by Patrick Ryan |
| 1987 | Aon acquires Smith & Sidders |
| 1997 | Aon acquires Alexander & Alexander |
| 2000 | Aon acquires Clayton & Company |
In the 1990s, Aon continued to expand its operations through a series of strategic acquisitions. In 1997, the company acquired Alexander & Alexander, a leading insurance brokerage firm, which gave Aon a significant presence in the global market. The acquisition also brought a number of new clients and employees to the company, helping to further establish Aon as a major player in the risk management industry.
Mergers and Acquisitions
Throughout its history, Aon has been involved in a number of significant mergers and acquisitions. In 2000, the company acquired Clayton & Company, a leading insurance brokerage firm in the United States. The acquisition helped to strengthen Aon’s position in the US market and added a number of new clients and employees to the company. In 2010, Aon acquired Hewitt Associates, a leading human resources consulting firm, which gave the company a significant presence in the benefits and retirement consulting market.
Recent Developments
In recent years, Aon has continued to evolve and expand its operations. In 2017, the company acquired CoCubes, an Indian-based information technology firm that specializes in providing recruitment and assessment solutions to businesses. The acquisition helped to strengthen Aon’s position in the human capital consulting market and added a number of new services and capabilities to the company’s portfolio. In 2020, Aon announced that it would be merging with Willis Towers Watson, a leading global advisory, broking, and solutions company, in a deal worth $30 billion.
The merger is expected to create a new global leader in the professional services industry, with a combined revenue of over $10 billion and a presence in over 120 countries around the world. The deal is also expected to bring a number of benefits to clients, including access to a broader range of services and capabilities, as well as increased scale and expertise.
What services does Aon provide to its clients?
+Aon provides a wide range of services to its clients, including risk management, retirement and investment consulting, health and benefits consulting, and human capital consulting. The company also provides a number of specialized services, such as cybersecurity consulting, data and analytics, and mergers and acquisitions advisory services.
What is Aon's global presence?
+Aon has a significant global presence, with operations in over 120 countries around the world. The company has a large network of offices and employees, which enables it to provide services to clients in a wide range of industries and locations.
In conclusion, Aon’s history is a story of growth, expansion, and innovation. From its humble beginnings as a small insurance brokerage firm to its current status as a global leader in the professional services industry, Aon has consistently demonstrated its ability to adapt and evolve in response to changing market conditions and client needs. As the company looks to the future, it is likely to continue playing a major role in shaping the risk management and human capital consulting industries, and providing innovative solutions to clients around the world.
