Aon Announces Agreement to Acquire Minet Group from The St. Paul.CHICAGO, IL --(BUSINESS WIRE)--April 11, 1997--Aon Corporation (Aon) and The St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Companies, Inc. jointly announced today that they have entered into a definitive purchase agreement for the sale of The Minet Group (Minet) to Aon. The transaction is expected to close within the next several weeks, subject to receipt of all necessary regulatory approvals and satisfaction of customary closing conditions. The specific terms of the transaction are not deemed to be material to either party and were not disclosed. Minet's operations will join Aon's global insurance brokerage and consulting business, Aon Group. Patrick G. Ryan, chairman and chief executive officer of Aon, stated, "The addition of Minet, including its well-regarded wholesale brokerage company, Swett & Crawford, brings many talented professionals to our organization. Minet further enhances Aon's presence in specialty brokerage markets worldwide. Specifically, the company provides a good strategic fit with Aon's reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and wholesale brokerage businesses and strengthens our professional liability business. The timing of this acquisition fits very well into the successful consolidation process in place with recent family additions, Alexander & Alexander and Bain Hogg Group." Minet's chairman and chief executive officer, Peter S. Christie, commented, "We are pleased to be joining with Aon and know that as a member of the Aon family of companies, we will be able to continue to offer our clients the highest-quality professional insurance services." The St. Paul Companies is a group of companies providing property-liability insurance products and services throughout the world. The St. Paul's
2. (body) SPC - Software Productivity Centre. 3. (company) SPC - Software Publishing Corporation. 4. ) is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Aon Corporation is an insurance services holding company that comprises a family of insurance brokerage, consulting and consumer insurance companies. Aon's common stock (Symbol AOC AOC, n an acronym for the Aromatherapy Organizations Council. ) is listed on the New York, Chicago and London stock exchanges. CONTACT: Aon Corporation, Chicago William J. Fasel, 312/701-3983 |
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