Aon Announces Strategic Move in Pakistan
SINGAPORE (29 May 2019)
– Aon plc (NYSE: AON)
, the leading global professional services firm providing a broad range of risk, retirement and health solutions today announced a strategic approach for its Pakistan operations.
The firm has signed an agreement with Khurram Alikhan, CEO of Aon Pakistan, to enable him to acquire 100 percent of Aon’s shareholding in its local subsidiary Aon Insurance Brokers (Private) Ltd. This management buyout is based on mutual agreement and will enable Aon to continue to serve clients in Pakistan and international clients with requirements in the country.
The agreement will be effective immediately and the new firm headed by Khurram will be called Shahenshah Insurance Brokers (Pvt) Limited, subject to applicable approvals.
The current Aon team in Pakistan will transfer to the new firm, which will become an exclusive long-term Aon global network correspondent, resulting in continuity of service provided by locally-based experts backed by the global infrastructure and market access of Aon. They will continue to serve clients with the support of Aon’s resources such as the Global Broking Centres in London, Singapore, and Bermuda, as well as the Global Account Management System (GAMS), which enables clients to have a single view of their worldwide insurance programme.
The new firm will also continue to work with Aon Reinsurance Solutions teams in London and Singapore to provide clients access to all forms of global reinsurance capital.
“We maintain a positive outlook for our business in Pakistan and our strategy is built on the foundation of enabling our colleagues and local leaders to drive growth in the region. This move will position us to respond quickly to our clients’ needs, while continuing to deliver on the standards they have come to expect from Aon,” said Sandeep Malik, CEO, Asia Pacific, Aon.
Aon plc (NYSE:AON)
Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
Aon has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
For further information on our capabilities and to learn how we empower results for clients, please visit https://www.aon.com/apac