Aon
Aon is a global professional services firm specializing in risk, insurance, reinsurance, health, retirement, wealth and talent advisory services.
Last updated November 1, 2026
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Overview
Aon plc is a global professional services firm whose principal activities are organized around Risk Capital and Human Capital. The company advises businesses, institutions and individuals on how to identify, finance, transfer and manage uncertainty, while also helping employers address health, retirement, wealth and workforce-related challenges. Its best-known activities are insurance brokerage and reinsurance brokerage, but its broader offering includes risk consulting, commercial insurance placement, catastrophe and capital-market advisory, employee health and benefits, retirement and pension consulting, wealth advisory, talent strategy and related technology-enabled services. The modern company was created in Chicago in 1982 when Patrick Ryan’s Ryan Insurance Group merged with the Combined Insurance Company of America, the insurance organization associated with W. Clement Stone. Ryan had entered insurance through auto-credit insurance and expanded into brokerage after acquiring insurance brokerage operations from Esmark in 1976. The holding company adopted the name Aon in 1987. The name was derived from a Gaelic word commonly translated as “one,” reflecting the company’s effort to present a unified global identity. Aon expanded through a long series of acquisitions. Purchases such as Hudig-Langeveldt, The Minet Group, A&A Services and other national brokers built an international insurance-broking network. The acquisition of Benfield in 2008 substantially strengthened reinsurance intermediation and capital advisory. The 2010 acquisition of Hewitt Associates added a major human-resources consulting and outsourcing platform, broadening Aon beyond property-and-casualty and reinsurance brokerage. Aon later sold its employee-benefits outsourcing platform to Blackstone in 2017, creating Alight Solutions, while retaining and developing advisory capabilities in health, retirement, wealth and talent. In its current structure, Risk Capital includes commercial risk solutions and reinsurance solutions. These businesses help clients arrange insurance, reinsurance and alternative risk financing, use analytics to quantify exposures, and respond to issues such as climate volatility, cyber risk, catastrophe loss, litigation, supply-chain disruption and changing regulation. Human Capital includes health solutions and wealth solutions, covering employee benefits, health strategy, retirement plans, pension governance, investment and wealth advice, and workforce or talent-related services. Aon’s model combines specialist advice with global data, benchmarking, analytics and local distribution. The acquisition of NFP, completed in April 2024, expanded Aon’s middle-market presence in the United States and added property-and-casualty brokerage, employee benefits, wealth management and retirement-plan advisory capabilities. Aon also acquired Global Insurance Brokers in India in 2024 and technology assets from Humn.ai to support commercial fleet and mobility solutions. In 2025, Aon reported approximately $17.2 billion in revenue, consisting of about $11.3 billion from Risk Capital and $5.9 billion from Human Capital, according to its annual filing. Aon is incorporated in Ireland, maintains its principal executive office in Dublin and operates its global headquarters from London. Chicago remains a major North American operating center and an important part of the company’s historical identity. Under President and Chief Executive Officer Gregory Case, Aon presents itself as a data- and advice-led firm intended to help clients make better decisions about risk and people. It serves clients in more than 120 countries and remains one of the world’s largest insurance brokers.
History
Aon’s history combines the development of Combined Insurance with Patrick Ryan’s expansion of insurance brokerage. W. Clement Stone entered the insurance business through a small Detroit agency acquired by his mother. He later founded the Combined Registry Company and built a direct-writing business focused on low-cost accident and health insurance. Combined expanded through acquisitions, including American Casualty Insurance Company of Dallas in 1939, and consolidated its operations as Combined Insurance Company of America in 1947. Patrick Ryan came from an automobile-dealing family in Wisconsin and began his own insurance business in 1964 as an auto-credit insurer. In 1976, Ryan acquired insurance-brokerage operations from Esmark and shifted the business toward commercial brokerage and higher-value insurance products. In 1982, Ryan Insurance Group merged with Combined Insurance Company of America. The transaction created the corporate foundation of Aon and transferred effective leadership to Ryan. The holding company adopted the Aon name in 1987, using a Gaelic term associated with unity or “one.” During the late 1980s and 1990s, Aon pursued international scale. It acquired Dutch broker Hudig-Langeveldt in 1992, sold its remaining direct life-insurance holdings to General Electric in 1995, and acquired The Minet Group and A&A Services in 1997. The latter transaction also helped return the Howden family name to the insurance market. Further purchases expanded Aon in Spain, Italy and Asia. The rapid acquisition program created integration costs and pressured profitability, encouraging the company to introduce fee-disclosure policies and reorganize around more integrated operating structures. Aon continued to adjust its portfolio in the 2000s. It acquired insurance and benefits consulting assets, reduced its workforce during a 2000 restructuring and supported the creation of Endurance Specialty, a Bermuda-based underwriting business. After the September 11, 2001 attacks, Aon suffered the deaths of 176 employees who worked in the South Tower of the World Trade Center. The company later moved its New York operations and continued expanding its brokerage and consulting businesses. Regulatory scrutiny became a major feature of the period. In 2004 and 2005, Aon and other large brokers faced investigations into contingent commissions paid by insurers. Aon agreed to a $190 million settlement in 2005 without admitting wrongdoing. In 2007, it sold Combined Insurance Company of America to ACE Limited and Sterling Life Insurance Company to Munich Re, reducing exposure to capital-intensive underwriting. In 2008, the acquisition of Benfield for approximately $1.75 billion strengthened reinsurance brokerage and capital advisory. The 2010 acquisition of Hewitt Associates for approximately $4.9 billion transformed Aon’s Human Capital business. Hewitt brought large-scale employee benefits, retirement, human-resources consulting and outsourcing expertise, as well as roughly 23,000 colleagues. Aon subsequently sold the employee-benefits outsourcing platform to Blackstone in 2017, creating Alight Solutions, while maintaining advisory operations in health, retirement, wealth and talent. Aon announced in 2012 that its corporate headquarters would move to London, while Chicago remained a major North American operating center. The company expanded into specialized areas including cyber risk, flood insurance processing, technology consulting, assessments and investment management. In 2021, Aon agreed to combine with Willis Towers Watson, but the transaction was terminated after regulatory objections. The failed merger was followed by continued organic and acquisitive development of Aon’s two-division model. In 2024, Aon completed the acquisition of NFP, a major middle-market provider of risk, benefits, wealth and retirement-plan advisory services. The deal added thousands of colleagues and broadened Aon’s distribution among middle-market clients. Aon also completed the acquisition of Global Insurance Brokers in India and acquired Humn.ai technology assets for fleet and mobility applications. By 2025, Aon reported $17.2 billion in revenue across Risk Capital and Human Capital and continued to position itself as a global data-, analytics- and advice-led professional services firm.
- 2025
Risk Capital and Human Capital revenue model reported
[2]Aon reported 2025 revenue of approximately $17.2 billion, divided between Risk Capital and Human Capital.
- 2024
NFP acquisition completed
[5]Aon completed the acquisition of NFP, adding middle-market risk, benefits, wealth and retirement capabilities.
- 2024
Global Insurance Brokers acquired in India
[6]Aon completed the acquisition of Global Insurance Brokers to expand its Indian insurance-broking platform.
- 2021
Proposed Willis Towers Watson merger terminated
[1]The proposed combination was ended after regulatory concerns prevented the transaction from proceeding.
- 2017
Employee-benefits outsourcing platform sold
[1]Aon sold its human-resources outsourcing platform to Blackstone, creating Alight Solutions.
- 2012
Headquarters moved to London
[1]Aon announced the relocation of its headquarters to London while retaining Chicago as a major North American operating center.
- 2010
Hewitt Associates acquired
[1]The approximately $4.9 billion transaction substantially expanded Aon’s human-capital consulting and outsourcing capabilities.
- 2008
Benfield acquired
[1]The approximately $1.75 billion acquisition strengthened Aon’s reinsurance brokerage and capital advisory capabilities.
- 2005
Contingent-commission settlement
[1]Aon agreed to a $190 million settlement connected with regulatory investigations into contingent commissions.
- 2001
Endurance Specialty established
[1]Aon helped establish Endurance Specialty, a Bermuda-based underwriting operation, with other investors.
Products and positioning
A global, advice-led professional services firm that integrates insurance brokerage, reinsurance, risk analytics and human-capital consulting for multinational, middle-market and institutional clients.
Insurance brokerage and risk consulting
Commercial Risk Solutions
Aon’s commercial risk business advises companies on risk identification, insurance program design, brokerage placement, claims strategy and risk financing. Its work spans property, casualty, specialty, cyber, marine, trade credit, political risk, construction, energy and other commercial exposures. The business combines local brokerage with global market access, benchmarking and analytics for multinational and middle-market clients.
Reinsurance brokerage and capital advisory
Reinsurance Solutions
Reinsurance Solutions helps insurers manage underwriting volatility and capital requirements by arranging treaty and facultative reinsurance, catastrophe protection, retrocession and alternative capital. The business also provides catastrophe modeling, portfolio analytics, capital advisory and insurance-linked securities expertise through Aon Securities and related platforms.
Employee health and benefits advisory
Health Solutions
Health Solutions advises employers on employee health insurance, benefits strategy, wellbeing, healthcare cost management, benefits administration and related workforce programs. It uses market benchmarking and analytics to help organizations design competitive benefits while managing affordability, compliance and employee experience across countries.
Retirement, pension and wealth advisory
Wealth Solutions
Wealth Solutions provides retirement-plan consulting, pension governance, actuarial advice, investment consulting, fiduciary support and wealth-related services. Its clients include employers, pension sponsors, trustees, institutions and individuals seeking to manage long-term financial obligations, investment decisions and retirement outcomes.
Human-capital consulting
Talent and workforce advisory
Aon’s talent-related services address workforce strategy, rewards, compensation, talent assessment, leadership, organizational effectiveness and employee experience. These capabilities originated in the company’s broader human-resources consulting heritage, including Hewitt, and are integrated with health, retirement and people analytics offerings.
Risk and human-capital analytics
Aon Data & Analytics
Aon develops and applies data, modeling and analytics to insurance pricing, catastrophe exposure, cyber risk, workforce decisions, health costs, retirement liabilities and other complex business questions. The platform-oriented approach is intended to connect specialist advice with actionable benchmarks and decision support.
Controversies
2021
U.S. Justice Department moves to block Aon's acquisition of Willis Towers Watson
In June 2021, the U.S. Justice Department announced it would sue to stop Aon's proposed $30 billion acquisition of Willis Towers Watson. The department cited antitrust concerns and stated that the proposed divestitures were insufficient to address those concerns. The announcement marked a formal step by the Justice Department to challenge the proposed transaction.
2020
EU antitrust review of Aon's proposed Willis Towers Watson acquisition
The European Commission's antitrust review of Aon's proposed $30 billion acquisition of Willis Towers Watson formally began. The Commission said the transaction could reduce competition in several markets.
2011
Foreign Corrupt Practices Act resolution
Aon paid a $1.76 million criminal penalty to the U.S. Department of Justice and an additional civil penalty reported by the Securities and Exchange Commission to resolve FCPA-related matters. The case concerned improper payments and inadequate books, records and controls involving subsidiaries and intermediaries in several countries.
2009
UK regulatory breach involving bribery controls
The UK Financial Services Authority fined Aon £5.69 million after finding that the company had inadequate systems and controls for assessing bribery and corruption risks in dealings with overseas firms and individuals. The regulator did not find that money had reached illegal organizations. Aon said the conduct was not deliberate and reported that it had strengthened its controls.
2005
Contingent commissions investigation and settlement
Aon was among major insurance brokers investigated over contingent commissions paid by insurers. Regulators argued that such payments could create conflicts of interest by influencing broker placement decisions. Aon agreed to a $190 million settlement without admitting wrongdoing.
Marketing campaigns
- 2023Aon and PGA TOUR analytics partnership
United States · Global
Aon and the PGA TOUR developed a partnership centered on real-time analytics, decision-making and the Aon Risk Reward Challenge. The program connected the brand’s advisory positioning with golf strategy and performance data.
Outcome. The partnership continued to feature the Aon Trophy and a prize associated with the Risk Reward Challenge.
- 2021Aon at Manchester United training facilities
United Kingdom · Global
Aon extended its Manchester United relationship beyond the shirt by holding naming rights to the club’s training center and sponsoring training kits. The activation associated Aon with preparation, performance measurement and decision-making.
Outcome. The training-center naming-rights and training-kit relationship ended in 2021.
- 2009Manchester United shirt sponsorship
United Kingdom · Global
Aon signed a four-year sponsorship agreement with Manchester United and replaced AIG as the club’s principal shirt sponsor from the 2010–11 season. The partnership placed the Aon name prominently on the club’s playing shirts and linked the brand with global sport, performance and risk themes.
Outcome. Aon’s shirt sponsorship continued through the 2014–15 season, after which Chevrolet became the shirt sponsor. Aon subsequently held naming rights to the Trafford Training Centre and sponsored Manchester United training apparel through 2021.
Brand decisions
2024
Acquisition of NFPM&ABackground
Aon sought to deepen its reach in the middle market and combine risk, benefits, wealth and retirement capabilities.
Action taken
Aon completed a cash-and-stock acquisition of NFP on April 25, 2024.
Aftermath
NFP became an Aon company and expanded Aon’s distribution and advisory capabilities among middle-market clients.
U.S. GAAP purchase price. Approximately $9.1 billion in the finalized purchase accounting disclosure; public announcement materials also described approximately $13.0 billion including cash, assumed liabilities and equity (April 25, 2024)
2024
Acquisition of Global Insurance BrokersM&ABackground
Aon wanted to expand its insurance-broking presence and capabilities in India.
Action taken
Aon completed the acquisition of Global Insurance Brokers and planned integration with Aon India Insurance Brokers subject to the applicable corporate process.
Aftermath
The transaction expanded Aon’s Indian platform and local distribution capabilities.
2024
Acquisition of Humn.ai technology assetsOtherBackground
Aon sought technology and analytics capabilities for commercial fleet and mobility risk.
Action taken
Aon acquired selected technology assets and intellectual property from Humn.ai.
Aftermath
The transaction was intended to strengthen Aon’s commercial fleet proposition and insight-driven risk services.
2021
Termination of proposed Willis Towers Watson mergerM&ABackground
Aon and Willis Towers Watson proposed a combination intended to create a larger global professional services and insurance-broking group, but regulators raised competition concerns.
Action taken
The parties terminated the merger agreement after regulatory opposition, including U.S. Department of Justice action.
Aftermath
Aon continued as an independent company and pursued organic growth and smaller acquisitions instead of the proposed mega-merger.
- Willis Towers Watson — Willis Towers Watson proceeded independently after the merger agreement was terminated.
2017
Sale of employee-benefits outsourcing platformM&ABackground
Aon evaluated its human-resources outsourcing platform as less central to its long-term advisory strategy.
Action taken
Aon sold the platform to Blackstone for approximately $4.8 billion, creating Alight Solutions.
Aftermath
Aon concentrated its Human Capital activities more heavily on advisory services in health, retirement, wealth and talent.
Sale consideration. Approximately $4.8 billion (2017)
2010
Acquisition of Hewitt AssociatesM&ABackground
Aon sought to expand from insurance brokerage into human-resources, employee-benefits and retirement consulting.
Action taken
Aon acquired Hewitt Associates in a cash-and-stock transaction valued at approximately $4.9 billion.
Aftermath
The deal added substantial human-capital consulting capacity, approximately 23,000 colleagues and more than $3 billion in revenue at the time.
Acquisition consideration. Approximately $4.9 billion (2010)
2008
Acquisition of BenfieldM&ABackground
Aon wanted to expand its reinsurance brokerage and capital advisory capabilities.
Action taken
Aon acquired Benfield Group for approximately $1.75 billion, including assumed debt.
Aftermath
The transaction strengthened Aon’s position in reinsurance intermediation and alternative capital markets.
Acquisition consideration. Approximately $1.75 billion (2008)
1987
Adopted the Aon nameStrategyBackground
The company sought a unified identity after the Ryan Insurance Group and Combined Insurance businesses were combined.
Action taken
The holding company was renamed Aon, a name associated with the Gaelic word for “one.”
Aftermath
The Aon identity became the basis for the company’s international expansion and later corporate rebranding.
Recent events
Vitality and Aon partnered to relaunch Britain’s Healthiest Workplace survey[12]
Reported:
Vitality partnered with Aon to relaunch Britain’s Healthiest Workplace survey in Spring 2022. The firms said they would use the survey and its results to help businesses identify workplace health and wellbeing issues.
Aon and CarrierHQ launch Last Mile Delivery insurance program[13]
Reported:
Aon and CarrierHQ announced the launch of their Last Mile Delivery insurance program, which offers operators in the last-mile delivery sector usage-based coverage.
Aon and Cybereason form cybersecurity alliance[14]
Reported:
Aon partnered with Cybereason to combine cybersecurity services and solutions for clients, including capabilities to prevent, detect and respond to cyber threats.
Shavelogic raises $100 million in growth capital[15]
Reported:
Shavelogic announced that it had raised $100 million in growth capital from Jefferies. Aon's Intellectual Property Solutions helped secure collateral protection insurance to support the financing.
U.S. Justice Department moves to block Aon's acquisition of Willis Towers Watson[11]
Reported:
The U.S. Justice Department said it would sue to stop Aon's proposed $30 billion acquisition of Willis Towers Watson, citing antitrust concerns and stating that proposed divestitures were insufficient.
- Unconfirmed
Aon unveils COVID-19 vaccine shipment insurance solution[16]
Reported:
Aon unveiled a solution providing supply-chain protection for global COVID-19 vaccine shipments, combining cargo insurance with sensor data and analytics.
- Unconfirmed
Aon collaborates with Parsyl on vaccine insurance solution[16]
Reported:
Aon collaborated with insurtech firm Parsyl to create the vaccine shipment insurance product, with Parsyl serving as its dedicated data platform on behalf of the insurers.
Africa Specialty Risks secures additional reinsurance capacity[17]
Reported:
Africa Specialty Risks secured additional multi-year binder capacity of up to $25 million per risk through a partnership with GIC and annual capacity from Peak Re, with support from Aon.
Aon launches bunker price hedging insurance product[18]
Aon launched an insurance product for shipping that pays the difference between an agreed fuel price and a higher price when fuel costs exceed an agreed limit.
- Unconfirmed
EU antitrust review of Aon’s proposed Willis Towers Watson acquisition[10]
Reported:
The European Commission’s antitrust review of Aon’s proposed $30 billion acquisition of Willis Towers Watson formally began. The Commission said the transaction could reduce competition in several markets.
Showing the 10 most recent.
Sources34 sources
- 1Aon plc — Wikipediaen.wikipedia.org
- 2Aon plc 2025 Form 10-Ksec.gov
- 3Aon Leadership and Governanceaon.com
- 4Aon Corporate Informationaon.com
- 5Aon completes acquisition of NFPir.aon.com
- 6Aon completes acquisition of Global Insurance Brokers in Indiaaon.com
- 7U.S. Department of Justice FCPA resolutionjustice.gov
- 8Aon and PGA TOUR analytics partnershipir.aon.com
- 9U.S. GAAP purchase priceir.aon.com
- 10EU antitrust review of Aon's proposed Willis Towers Watson acquisitionchinatimes.com
- 11U.S. Justice Department moves to block Aon's acquisition of Willis Towers Watsonchicagotribune.com
- 12Vitality 与 Aon 合作重新推出英国最健康职场调查moneymarketing.co.uk
- 13Aon与CarrierHQ推出末端配送保险计划prnewswire.com
- 14Aon与Cybereason建立网络安全联盟intelligentinsurer.com
- 15Shavelogic获得1亿美元增长资本prnewswire.com
- 16Aon推出新冠疫苗运输保险方案intelligentinsurer.com
- 17Africa Specialty Risks 获得额外再保险承保能力globalreinsurance.com
- 18Aon推出船用燃油价格对冲保险产品shipandbunker.com
- 19Aon宣布计划发布2020年第三季度业绩prnewswire.com
- 20Aon与Expertunity在澳大利亚建立合作insurancebusinessmag.com
- 21怡安任命马特·沃尔夫为加拿大再保险解决方案总裁insurancebusinessmag.com
- 22怡安推出 COVID-19 员工影响预测应用insurancebusinessmag.com
- 23怡安与威达信宣布合并协议opalesque.com
- 24Aon宣布收购Willis Towers Watsoninstitutionalinvestor.com
- 25Aon收购Cytelligencefinanznachrichten.de
- 26Aon完成对CoverWallet的收购prnewswire.com
- 27Aon 将收购 CoverWalletalleywatch.com
- 28Fineon Exchange委任Aon为出口融资平台提供保险服务gtreview.com
- 29怡安合并韦莱韬悦，估值800亿美元的全球最大保险经纪将诞生finance.sina.com.cn
- 30Aon acquires Canadian cybersecurity firm Cytelligencecanadianlawyermag.com
- 31Aon pushes into SMB insurance with CoverWallet acquisitionbusinessinsider.com
- 32Justice Department Sues to Block Aon’s Acquisition of Willis Towers Watsonimperialvalleynews.com
- 33U.S. Sues To Block Aon's $30 Bln Acquisition Of Willis Towersfinanznachrichten.de
- 34U.S. sues to stop Aon's purchase of Willis Towers Watsonfinancialpost.com
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