Aon Buying Benfield is Significant

It’s been reported, though not confirmed, that Marsh didn’t get its’ act together fast enough to acquire Benfield before Aon, led by Greg Case, stepped in and closed the deal – BTW, making the guys in London a great deal of money. Aon is spending more to buy Benfield than it spent to acquire Alexander & Alexander! But it may well be worth it – with an estimated $2 billion in revenue who could possibly catch them.

Michael O’Halleran, top man of Aon Re Global, will have his hands full – capable hands, for sure, but this will take some time to integrate – if that’s the operative word – word has it that that this is a good business match – complimentary specialties, no conflicting client lists.

Someone suggested to that Rodman “Rod” Fox may be standing on the sidelines to start anew reinsurance brokerage with any people who may leave the new Aon Benfield.

Some background (not all of it – don’t ask) on Rod Fox – try and follow this – Rod Fox, worked for Ted Blanch @ E.W. Blanch for 15 years eventually becoming President and COO; joined Benfield in 2000 as a director of the group and CEO of Benfield Greig; Then in 2006, after a spell in the wilderness, was hired by Hannover Re to run its U.S. subsidiary Clarendon Insurance Group – which the German insurer spun off and it morphed into Praetorian where Fox was the CEO; something happened, and now Fox is CEO of New Asset Class – a specialty provider of property catastrophe risk management and underwriting services that utilizes proprietary technology and advanced analytics). Some people step in mud, this man steps into pots of gold……..

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