Aon Corporation Announces Aon/China Initiative.CHICAGO, IL--(BUSINESS WIRE)--August 17, 1995--Aon Corporation today announced that it has been licensed to open a resident representative office in Beijing as the first step in an initiative that will permit Aon operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. to offer a broad range of insurance and consulting services and products to individuals, foreign corporations operating in China and state-owned organizations. Initially, Aon operating companies operating company A business that engages in transactions with outsiders. will provide 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. brokerage and insurance consulting services through the resident representative office. Aon Corporation is a $19 billion insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. holding company. Its subsidiaries offer specialized insurance products and services including commercial and reinsurance brokerage services; risk management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services; underwriting management, life, accident and health insurance products and extended warranty The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. products. David L. Y. Liu, Ph.D., will serve as the Chairman of the company-wide Aon/China initiative. Dr. Liu, who has over 20 years of experience in the insurance industry, has been a member of the Aon organization since 1978. Dr. Liu brings to this position extensive insurance industry experience as well as knowledge and understanding of the language, customs and people of China. Patrick G. Ryan, Chairman and Chief Executive Officer of Aon Corporation, commented, "The Aon/China initiative reflects the Aon operating companies' continuing commitment to provide high quality insurance brokerage and consulting services and consumer products in developing markets around the world. Aon recognizes the importance of China as a growing market, and we are confident that, under David's leadership, our organization will successfully serve the people and businesses of China." David L. Y. Liu stated, "We are committed to cooperating closely with Chinese insurance professionals as they seek to expand the insurance services and expertise available in China through training programs, the introduction of additional technology and an increase in the variety and availability of reinsurance products. Working together with them, the Aon/China initiative's goal is to foster a thriving insurance market in China, and all of us involved in the Aon/China effort look forward to serving the insurance and risk management needs of our international clients in China." Aon Corporation 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 , Chicago 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. . CONTACT: Joan E. Steel 312/701-3016 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion