Aon Corp. said it is continuing its exit from the property/casualty business by selling off its Construction Program Group to Chicago-based Old Republic Insurance Co. for $85 million in cash.
AON CORP. said it is continuing its exit from the property/casualty
business by selling off its CONSTRUCTION PROGRAM GROUP to Chicago-based
OLD REPUBLIC INSURANCE CO. for $85 million in cash. The world's
second-largest insurance broker said the sale would boost the
company's specialty A contract under seal.
A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. property and casualty reserves by about $100
million.
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