Aon Risk Services Announces the Acquisition of Agricultural Risk Management.CHICAGO--(BUSINESS WIRE)--January 10, 1995--Aon Risk Services, Inc. announced that its subsidiary, Aon Risk Consultants, Inc., has acquired Agricultural Risk Management, Limited (ARM). ARM, founded in 1983, is a London-based insurance and 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. consultant specializing in the agricultural industry. ARM also has offices in Australia, Chile and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . Lorey Hoffman, President and Chief Executive Officer of Aon Risk Consultants, commented, "ARM, with its worldwide expertise as an agricultural insurance consultant, will play a significant role in fulfilling our commitment to offer expertise and highly specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. products and services to the international markets. ARM will enhance our capabilities to provide the insurance, reinsurance and banking markets with seamless service and innovative solutions to increasingly sophisticated challenges. Further, ARM will be a valuable resource for all of our worldwide reinsurance brokerage, captive management and retail brokerage operations. While ARM will be part of the Aon family of companies, it will continue to serve the needs of clients, unaffiliated with the Aon Group, with the same level of propriety pro·pri·e·ty n. pl. pro·pri·e·ties 1. The quality of being proper; appropriateness. 2. Conformity to prevailing customs and usages. 3. proprieties The usages and customs of polite society. , independence and high quality service it has in the past." William J.A. Dick, Managing Director of Agricultural Risk Management stated, "Aon's vast resources and network of highly talented professionals will strengthen our ability to serve our clients worldwide and expand our new business opportunities. Access to Aon's thoroughly capable team of consultants and brokers uniquely positions us to respond to the growing needs of our clients and the insurers we represent." Aon Risk Services, Inc. is the reinsurance and wholesale brokerage, managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. and captive management unit of Aon Corporation. Aon is an 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 listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. with assets in excess of $17 billion. CONTACT: Aon Corporation Joan Steel, 312/701-3016 |
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