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Aon Plc  (AON)
Other Ticker:  
 
    Sector  Financial    Industry Insurance Brokerage
   Industry Insurance Brokerage
   Sector  Financial
 


Aon Plc Segments

 
Total Retail brokerage
   49.11 % of total Revenue
Reinsurance brokerage
   12.02 % of total Revenue
Total Insurance Brokerage & Services
   61.35 % of total Revenue
H.R. Consulting
   16.71 % of total Revenue
H.R. Outsourcing
   22.38 % of total Revenue
Total HR Solutions
   38.65 % of total Revenue
 

Business Segments (Sep. 30, 2015)
Revenues
(in millions $)
III. Quarter
%
(of total Revenues)
(Sep. 30, 2015)
Income
(in millions $)
III. Quarter
%
(Profit Margin)
Total Retail brokerage
1,352.00 49.11 % 0.00 -
Reinsurance brokerage
331.00 12.02 % 0.00 -
Total Insurance Brokerage & Services
1,689.00 61.35 % 0.00 -
H.R. Consulting
460.00 16.71 % 0.00 -
H.R. Outsourcing
616.00 22.38 % 0.00 -
Total HR Solutions
1,064.00 38.65 % 0.00 -
Total
2,753.00 100 % 0.00 -

• View Income Statement • View Competition by Segment • View Annual Report

Growth rates by Segment (Sep. 30, 2015)
Y/Y Revenue
%
III. Quarter
Q/Q Revenue
%
(Sep. 30, 2015)
Y/Y Income
%
III. Quarter
Q/Q Income
%
Total Retail brokerage
-7.27 % - - -
Reinsurance brokerage
-10.78 % - - -
Total Insurance Brokerage & Services
-8.01 % -7.6 % - -
H.R. Consulting
-1.29 % - - -
H.R. Outsourcing
1.99 % - - -
Total HR Solutions
0.66 % 8.68 % - -
Total
-4.84 % -1.92 % - -

• View Growth rates • View Competitors Segment Growth • View Market Share

To get more information on Aon Plc's Total Retail brokerage, Reinsurance brokerage, Total Insurance Brokerage & Services, H.R. Consulting , H.R. Outsourcing, Total HR Solutions, Total segment. Select each division with the arrow.

  Aon Plc's

Business Segments Description



Risk and Insurance Brokerage Services

Risk and insurance brokerage services are provided by certain indirect subsidiaries, including Aon Risk Services Companies, Inc.; Aon Holdings International bv; Aon Services Group, Inc.; Aon Re Worldwide, Inc.; Aon Limited (U.K.); and Cananwill, Inc.

Our retail brokerage companies operate in a highly competitive industry and compete with a large number of retail insurance brokerage and agency firms, as well as individual brokers and agents and direct writers of insurance coverage. Specifically, this segment:

• addresses the highly specialized product development and risk management needs of professional groups, insurance companies, service businesses, governments, healthcare providers, commercial organizations and non-profit groups, among others

• provides affinity products for professional liability, life, disability income and personal lines for individuals, associations and businesses


• provides wholesale brokerage, managing underwriting and premium finance services to independent agents and brokers as well as corporate clients

• offers claims management and loss cost management services to insurance companies and firms with self-insurance programs

• provides actuarial, loss prevention and administrative services to businesses and consumers.


We measure our revenues in this segment under the following areas:

Risk Management and Insurance Brokerage (Americas and International operations) encompasses our retail and wholesale brokerage services, affinity products, managing general underwriting, placement and captive management services, and premium finance services for small, mid-sized and large companies, including Fortune 500 corporations. The Americas' operations provide products and services to clients in North and South America, the Caribbean and Bermuda. Our International risk operations offer similar products and services to the rest of the world. Risk management services also include risk identification and assessment, safety engineering, claims and loss cost management, and program administration.

Retail brokerage has practice areas to deliver specialized advice and services in such segments as entertainment, media, financial institutions, marine, aviation, construction, healthcare and energy, among others.

As a retail broker, Aon Risk Services generally serves as an advisor to corporate clients and can arrange a wide spectrum of risk management solutions, including property, general liability, professional and directors' and officers' liability, workers' compensation, and other exposures.

Wholesale brokerage operations serve retail insurance brokers and independent agents in placing large and small accounts with both standard and specialty carriers. Our wholesale brokerage operations are a commercial resource for insurance products, specialty programs and exclusive facilities.

In our managing general underwriting business, we provide outsourcing solutions to insurance companies, such as risk selection, premium rating, form design and client service, but we do not assume any underwriting risk.

Aon's wholesale brokers and managing general underwriting units offer more than 450 insurance products and programs. Clients may access them directly, or through the Aon Specialty Product Network (ASPN), which we developed as a single-point-of-contact for agent and broker clients who need specialty insurance solutions for their customers.

We are also a major provider in the management of captive insurance companies that enable our clients to manage risks that would be cost prohibitive or unavailable in traditional insurance markets.

Reinsurance Brokerage and Related Services offers sophisticated advisory services in program design and claim recoveries that enhance the risk/return characteristics of insurance policy portfolios, improve capital utilization and evaluate and mitigate catastrophic loss exposures worldwide. An insurance or reinsurance company may seek reinsurance or other risk-transfer financing on all or a portion of the risks it insures. Brokerage services use dynamic financial analysis and capital market alternatives, such as transferring catastrophe risk through securitization.

Aon Re Worldwide, Inc., its subsidiaries and its affiliates provide reinsurance services to insurance and reinsurance companies and other risk assumption entities by acting as brokers or intermediaries on all classes of reinsurance. While property and casualty lines dominate, our reinsurance activities also include specialty lines such as professional liability, medical malpractice, accident, life and health. Services include advice, placement of reinsurance and alternative risk transfer financing with capital markets, and related services such as actuarial, financial and regulatory consulting, portfolio analysis, catastrophe modeling, and claims services.

Claim Services offers claims administration and loss cost management services through dedicated subsidiaries that are separate from our risk management and reinsurance brokerage services. In the United States, these services are delivered principally through Cambridge Integrated Services Group.

Compensation for Services

Revenues are generated through commissions, fees from clients, and compensation from insurance and reinsurance companies with whom we place business for services provided to them. Commission rates and fees vary, depending upon several factors which may include the amount of premium, the type of insurance or reinsurance coverage provided, the particular services provided to an insurer or reinsurer, and the capacity in which the broker acts. We also receive investment income on funds held on behalf of clients.

Consulting

We believe we are the world's third largest employee benefit consultant and the fifth largest in the United States based on total revenues.

Through our Aon Consulting Worldwide, Inc. subsidiary, (Aon Consulting) we provide a full range of human capital management services in five practice areas:

1. Employee Benefits advises clients regarding the structure, funding and administration of employee benefit programs, which attract, retain and motivate employees. Benefits consulting includes health and welfare, retirement, executive benefits, absence management, compliance, employee commitment, investment advisory and elective benefits services.

2. Compensation focuses on designing salary, bonus, commission, stock option, and other pay structures, with special expertise in the financial services and technology industries.

3. Management Consulting assists clients in process improvement and design; leadership, organization and human capital development; and change management.

4. Communications advises clients on how to communicate initiatives that support their corporate vision.

5. Human Resource Outsourcing offers employment processing, performance improvement, benefits administration, and other employment-related services.


Aon Consulting works to maximize the value of clients' human resources spending, to boost employee productivity, and to improve employee performance. Its approach addresses a trend toward more diverse workforces (demographics, nationalities, cultures and work/lifestyle preferences) that require more choices and flexibility among employers—with benefit options suited to individual needs.

Our consulting professionals and their clients also identify options in human resource outsourcing and process improvement. Prime areas where companies choose to use outsourcing services include the assessment and selection of job candidates, employment processing, training and development, benefits administration and the individual benefits enrollment process.

Compensation for Services

Aon Consulting revenues are principally derived from fees paid by clients for advice and services. In addition, commission revenue is received from insurance companies for the placement of individual and group insurance contracts, primarily life, health and accident coverages.

Insurance Underwriting

We classify our insurance underwriting businesses into two sub-segments: (1)  accident & health and life, and (2) warranty, credit and property and casualty.

Accident & Health and Life

Our Combined Insurance Company of America and Combined Life Insurance Company of New York (Combined) subsidiaries provide supplemental accident, health and life insurance. We are a leading underwriter and distributor of specialty individual accident, disability, health and life insurance products that are targeted to middle income consumers in the United States, Europe, Canada, Asia/Pacific and Latin America.

A worldwide sales force of approximately 7,600 exclusive career agents service clients regularly to initiate and renew coverage and to sell additional coverage. We offer a wide range of accident and sickness insurance products, including short-term disability, cancer aid, Medicare supplement, disability income, and long-term care coverage. Most of these products are primarily fixed-indemnity obligations, and are not subject to escalating medical cost inflation.

With the continuing rise of employee benefit costs, Combined also works with employers to contain those costs while offering quality benefits that appeal to their employees' individual needs. For example, a Worksite Solutions program complements existing benefits packages offered by employers with no additional cost to a company. Individual employees choose among supplemental insurance product options and pay for them through payroll deductions.

Compensation for Services

Accident and health revenues are based on premiums paid by policyholders for insurance coverage and services.

Warranty, Credit and Property and Casualty

We believe we are the world's largest independent provider of extended warranty products. These products are offered through our Virginia Surety Company, Inc. and London General Insurance Company Limited subsidiaries.

Extended warranty, which is the largest line of business in this sub-segment, offers extended service plans and warranties for:

• some of the world's premier manufacturers, distributors and retailers of many types of consumer goods including automobiles, electronics, appliances, computers and telephone equipment


• homebuyers and sellers.


Services include compliance support, merchandising, direct marketing, training, and customer care management services. Products are sold through retailers, automotive dealers, insurance agents and brokers, and real estate brokers.

Our credit life, accident and health, and disability insurance provides coverage for unpaid loans in the event of death, illness, accident or involuntary unemployment. This insurance is sold by automobile dealers with automobile financing, and by financial institutions with consumer loans. Other products include extended warranty or insurance protection for items purchased with a credit card and extended warranties on major home systems and appliances.

Select property and casualty products are designed to protect businesses against losses related to various personal and commercial risks, such as professional liability errors and omissions, excess liability, and workers' compensation. We offer select commercial property and casualty business on a limited basis through managing general underwriters, primarily Aon-owned companies.

Compensation for Services

Insurance revenues are based on premiums paid by policyholders. Certain other revenues are based on fees paid by clients for administrative and other services.

   

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