Aon Nyse History: Timeline Overview

Aon plc, a British-American multinational corporation, has a rich history that spans over a century. The company, which is currently listed on the New York Stock Exchange (NYSE) under the ticker symbol AON, has undergone significant transformations over the years. In this article, we will delve into the history of Aon and provide a comprehensive timeline overview of its major milestones.

Early Years: 1919-1982

Aon’s history dates back to 1919 when Frank B. Mitchell founded the insurance brokerage firm Ryan Insurance Company in Chicago, Illinois. The company initially focused on providing insurance services to the local community. In the 1920s, Ryan Insurance Company began to expand its operations, and by the 1950s, it had established itself as a prominent insurance brokerage firm in the United States. In 1967, the company was acquired by the Combined Insurance Company of America, which was founded by W. Clement Stone. The acquisition marked a significant turning point in the company’s history, as it led to a period of rapid expansion and growth.

Mergers and Acquisitions: 1982-1997

In 1982, the Combined Insurance Company of America merged with the Ryan Insurance Company to form the Combined Ryan Insurance Company. The merger created one of the largest insurance brokerage firms in the United States. In the 1990s, the company underwent significant restructuring, and in 1997, it was renamed Aon Corporation. The name change reflected the company’s expanding global presence and its growing range of services, which included risk management, insurance brokerage, and human resource consulting. During this period, Aon acquired several companies, including the insurance brokerage firm, Alexander & Alexander, and the consulting firm, The Eitterson Group.

Aon's expansion into new markets and services during the 1990s and early 2000s was driven by a series of strategic acquisitions and partnerships. The company's risk management services, which included insurance brokerage, reinsurance, and risk consulting, became a key area of focus. Aon also established itself as a leading provider of human resource consulting services, including benefits administration, compensation consulting, and talent management.

IPO and NYSE Listing: 1997-2008

In 1997, Aon Corporation listed its shares on the NYSE under the ticker symbol AOC. The initial public offering (IPO) marked a significant milestone in the company’s history, as it provided Aon with the capital to pursue further expansion and growth. In the early 2000s, Aon continued to expand its operations through a series of acquisitions, including the purchase of the insurance brokerage firm, Willis Corroon, and the consulting firm, Hewitt Associates. The acquisitions enhanced Aon’s capabilities in insurance brokerage, reinsurance, and human resource consulting.

Expansion and Diversification: 2008-2018

In 2008, Aon Corporation acquired the reinsurance brokerage firm, Benfield Group, in a deal worth 1.4 billion. The acquisition strengthened Aon's position in the reinsurance market and expanded its range of services. In 2010, Aon acquired the human resource consulting firm, Hewitt Associates, in a deal worth 4.9 billion. The acquisition created one of the largest human resource consulting firms in the world. In 2012, Aon acquired the insurance brokerage firm, smallest Willis Group Holdings, but was forced to divest some of its assets due to regulatory concerns.

Aon's commitment to innovation has been a key factor in its success. The company has invested heavily in data analytics and digital technologies, which has enabled it to provide more effective and efficient services to its clients. Aon's cyber risk management services, for example, have become a key area of focus, as companies around the world seek to protect themselves against the growing threat of cyber attacks.

Recent Developments: 2018-Present

In 2018, Aon plc announced that it would be relocating its global headquarters from London to Dublin, Ireland. The move was driven by the company’s desire to establish a more stable and predictable regulatory environment. In 2020, Aon announced that it would be acquiring the insurance brokerage firm, Willis Towers Watson, in a deal worth $30 billion. The acquisition, which is expected to close in 2023, will create one of the largest insurance brokerage firms in the world.

Aon's history is a testament to the company's ability to adapt and evolve in response to changing market conditions. From its humble beginnings as a small insurance brokerage firm in Chicago, Aon has grown into a global professional services firm with a diverse range of services and a strong presence in over 120 countries. As the company looks to the future, it is likely to continue to play a major role in shaping the global insurance and professional services industries.