AON Will Move Parent Company from United Kingdom to Ireland
October 30, 2019
Aon's parent company will change its jurisdiction of incorporation from the United Kingdom to Ireland in a transaction that will be completed during the first quarter of 2020.
It is anticipated that European Union single market access will not be allowed with a Brexit deal. Remaining within the European Union single market will help Aon maintain a stable corporate structure and capital flexibility, the company said in a statement.
Aon said its operating company headquarters will be maintained in London at the Leadenhall Building with no change in its commitment to the United Kingdom and the London insurance market.
Over the last several years, Aon has solidified its position in the UK domestic market, with the acquisitions of, among others, Henderson and Portus Consultancy, which doubled the firm's retail business within the United Kingdom, and added 500 UK colleagues.
Furthermore, moving the parent company's jurisdiction of incorporation will not result in any material change to Aon's current business operations, reporting requirements, or listings.
Aon expects the move to drive ongoing shareholder value creation through effective capital management that maximizes return on invested capital.
October 30, 2019
