Aon folds Risk Solutions and Benfield units into single entity

Aon will fold its Aon Risk Solutions and Aon Benfield units into a single operating entity under the simplified Aon brand, in a bid to streamline services and boost innovation. Michael O'Connor, previously CEO of Aon Risk Solutions, and Eric Andersen, who was CEO of Aon Benfield, have been appointed co-presidents of the new firm, simply called Aon. They will lead an integrated global operating committee designed to better deliver for clients. Both will continue to report to Aon CEO Greg Case, whose contract was recently extended by Aon’s board of directors until April 2023. Aon said the moves are designed to “increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients”. Aon previously announced a single P&L structure to “increase colleague connectivity and accelerate reinvestment in innovation that serves clients”. That effort is overseen by Aon's global CFO Christa Davies, whose contract was also recently extended until April 20203. "Aon's evolution into a leading global professional services firm has been driven by the tireless efforts of colleagues to work across our portfolio to deliver the best advice and solutions to clients. This announcement recognises those efforts and takes steps to remove structural barriers, so that we can innovate new sources of value and realise the full potential of our firm,” said Mr Case. Mr O’Connor said Aon’s new global operating committee has an opportunity to further unite the business to make Aon “greater than the sum of its parts”. “In doing so, we can bring our best to clients and deliver on the full potential of our integrated firm,” he said. Mr Andersen added: “By working together more closely, we can create more value for clients and exciting new opportunities for colleagues.” Mr Case explained that Cary Grace, CEO of retirement solutions, John Zern, CEO of health solutions, and COO John Bruno will each add substantially to their remit under the shakeup. "Cary Grace will now be responsible for global M&A Integration in addition to her global leadership of retirement solutions, reinforcing the importance of adding new capabilities to address emerging client need, and John Zern will add to his global health solutions responsibilities by also becoming CEO of North America for commercial risk solutions, further underscoring the opportunity we have to work together across solution lines to create client value," said Mr Case. "Now, more than ever, we believe that the insights we deliver through data and analytics are critical to unlocking the next wave of value for our clients and driving our long-term growth. That is why I have asked our chief operations officer, John Bruno, to take on the additional role of CEO, data and analytic services, and work closely with me and our CFO, Christa Davies, to enhance our current offerings and accelerate the commercialisation of new data-driven content solutions,” he added.

Aon folds Risk Solutions and Benfield units into single entity

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