Aon's operating model enables combined entity to serve contractors on local basis in US
Aon Risk Services, the risk management and insurance brokerage business of Aon Corporation, has signed a definitive agreement to acquire Allied North America, one of the largest independent surety and construction insurance brokerage firms in the US. Closing is expected by year’s end.
Aon Construction Services Group’s operating model is expected to allow the combined entity to serve contractors on a local basis in every region of US. In addition, the ARS global network will empower the team to better serve international clients, the company said.
Steve McGill, chairman and CEO of Aon Risk Services, said: This acquisition reinforces our leadership position in the construction sector and enables us to bring additional talent and skills to the benefit of our clients. We very much welcome our colleagues from Allied to the firm.
Gregory Case, president and CEO of Aon Corporation, said: Through the increased broking capability provided by Allied North America, we are enhancing our global construction powerhouse as well as our abilities to better serve our clients and grow our business around the world.”
Peter Arkley, chairman and CEO of Aon’s global construction business and Aon Construction Services Group, said: Aon’s acquisition of Allied North America brings together the two premier US construction brokerage firms to create a specialty construction brokerage unmatched in depth of talent. The combined organization will have unprecedented leadership, market access and technical knowledge that will provide a unique asset and a tremendous opportunity for our clients.
Bill Marino, current chairman of Allied, said: Pairing Allied’s solid relationship with leading construction carriers, our depth in surety and risk management as well as our professional safety services with Aon’s existing talent and intellectual capital enhances our collective position as the leading risk management partner to the construction industry.”
Marino will assume the role of president of Aon’s global construction business and vice chairman of Aon Construction Services Group, post-acquisition.