Aon Group announces acquisition of Lumley South Africa.CHICAGO--(BUSINESS WIRE)--March 19, 1996--Aon Group Inc. (Aon Group) the second-largest and fastest growing international insurance brokerage and consulting organization in the world, today announced that it has acquired Lumley South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. (Pty) Ltd. from Edward Lumley Holdings Ltd., based in the United Kingdom. Lumley, one of South Africa's most established and well respected insurance intermediary Intermediary See: Financial intermediary intermediary See financial intermediary. and consulting organizations, specializes in petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. , municipal and general commercial business. Lumley South Africa, headquartered in Johannesburg, has more than 90 employees in six offices. Patrick G. Ryan, chairman of Aon Group, commented, "This acquisition reflects our long term strategy to serve the many multinational companies that currently operate in South Africa and those that will, undoubtedly, soon become part of this rapidly expanding commercial market. Aon Group is committed to providing unparalleled service and innovative solutions for all of our clients' insurance needs, anywhere in the world." Tim Griessel, managing director of Lumley South Africa, stated, "We are very pleased to join the Aon organization, which will enable us to offer our clients in South Africa a truly global network of integrated insurance and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . Our areas of expertise and knowledge of the South African market, coupled with Aon's unrivaled breadth of specialized capabilities and interdependent in·ter·de·pen·dent adj. Mutually dependent: "Today, the mission of one institution can be accomplished only by recognizing that it lives in an interdependent world with conflicts and overlapping interests" resources, will open up a whole new range of insurance services on the African continent." Aon Group, which serves clients from more than 350 owned offices around the world, comprises the insurance services and consulting operations of Aon Corp. Aon Corp. 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 , London and Chicago stock exchanges Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. . CONTACT: Aon Corp., Chicago Joan Steel, 312/701-3016 or Rotterdam, The Netherlands Thea Alders-Timmer, (31) 10-448-7291 or Johannesburg, South Africa Tim Griessel, (27) 11-447-8100 |
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