Aon Corporation is set to assert their dominance in the risk management world this year, as they move their corporate headquarters to London, the company announced today.
The group said they are making the move to gain greater access to emerging markets and to take advantage of the strategic proximity of Lloyd’s and the London market, as one of the key international hubs of insurance and risk brokerage.
As part of the move Chicago, the groups current headquarters will continue as the head office for the Americas. Aon will move their Chicago based employees into a new location. They expect to create more than 1,000 jobs over the course of the year.
“The decisions we make today will help drive our global strategy and strengthen our growth opportunities in the years to come,” CEO Greg Case said today.
“The continued investment in our international operations and emerging markets is important to the growth of our firm.”
The group said the move will strengthen their ability to drive future growth, build innovative products, develop talent and deliver shareholder value.
What does this mean for shareholders?
The move, if approved by stockholders, will result in a transaction of stocks for all current shareholders. All shares will be converted one for one from the current common Aon shares to the common shares of the newly formed English company.
Aon UK expects to be listed on the NYSE and to report earnings and other financial statements in accordance with Securities and Exchange Commission regulations, including dollar denominated financial statements. The transaction is anticipated to close in the second quarter of 2012.