Leading insurance broker and risk management consultant Aon has formed Aon Global Risk Consulting, creating one of the largest dedicated risk consulting, captive management and risk engineering groups in the world.
The formation of Aon Global Risk Consulting (AGRC) follows the launch of Aon Global in January and is the latest step by the company in bringing all its global capabilities together in a single unified structure aimed at providing world-class service to the largest and most complex organizations.
As part of Aon Global, AGRC will offer a fully integrated range of risk consulting solutions including enterprise risk management, actuarial and analytical services, risk finance, risk control and engineering, accelerated claims closure services, and (re)insurance company/captive management.
Led by Stephen Cross as CEO with Philip Stamp as chairman, AGRC combines Aon's former Captives Services Group (Aon Insurance Managers), Risk Consulting and Risk Engineering operations.
Stephen Cross commented: "As the world's largest companies aim to provide a smooth and seamless global operation for their clients, it is important that we are in a position to do the same for them.
"The creation of Aon Global Risk Consulting is about being able to offer a fully integrated range of services from risk identification to assessment and management of risk, and risk financing. We will be providing our clients with comprehensive tailored solutions, through a consistent global approach. With 1500 staff in over 70 locations, AGRC is already one of the largest risk consulting organizations in the world and is in an excellent position to deliver distinctive value to companies that have to deal with the largest and most complex of risks."
Alongside its risk consulting offering, AGRC delivers services for captive (re)insurance companies, repositioned as Aon Global Insurance Managers (AGIM). AGIM has more captives under management than any other organization, and is present in all the major captive domiciles around the world.
The third integral part of AGRC is Aon Global Risk Control and Engineering. This unit provides integrated solutions for complex property and casualty related risks, and includes Schirmer Engineering, one of the most respected names in risk engineering and leaders in their field.
Steve McGill, CEO of Aon Global, commented on the creation of the new group: "With the level, complexity, and impact of risk continuing to increase, organizations need to think more widely and deeply about risk issues than ever before. From the boardroom to the front line, we have the capabilities to help them in every aspect of that challenge.
"Aon Global Risk Consulting will work seamlessly within Aon Global's client service and risk broking operations to deliver value from the ever increasing and ever more complex risks facing large organizations. This integrated ability to analyze complex risks, then structure and execute effective risk mitigation solutions in the global (re)insurance market is a unique feature of the value that Aon Global brings to clients."