CIRC Ranks Aon-COFCO as #1 Global Broker in China
04 Dicembre 2007 - 5:00PM
PR Newswire (US)
Company Also Launches Major Chinese Overseas Direct Investment
Initiative BEIJING and CHICAGO, Dec. 4 /PRNewswire-FirstCall/ --
Aon-COFCO, China's preeminent joint-venture and risk consulting
company, today announced that it ranked number one in the
international brokers league, and ranked third overall in the
region, according to a recently published report by the China
Insurance Regulatory Commission (CIRC). (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO) Citing
China's extremely rapid growth in domestic consumer demand and
inward investment, YC Wei, chief executive officer of Aon-COFCO,
said, "China's significance in the global economy cannot be
overstated. With the commitment of Aon Corporation, Aon-COFCO is
the only international broker in China who can really 'think
globally and act locally' with success. Our long-standing
relationship with the insurance market and the CIRC allows Aon to
expand its network in China at a healthy and effective pace."
Bernie Fung, chairman and chief executive officer of Aon Asia
Pacific, added, "The unmatched presence of Aon-COFCO has given us a
very strong foundation in the Chinese market, and it has helped Aon
to expand its market presence in local indigenous corporations who
are growing not only in China but throughout the world." According
to the CIRC second quarter 2007 report on Intermediary Market
Developments in China, Aon-COFCO Insurance Brokers Company Limited
was the largest international broker with 4.89 percent market
share, and the third largest broker overall behind Chang'An
Insurance Broker Co., Ltd, and Jiang Tai Insurance Broker Co., Ltd.
As part of its growth strategy, Aon-COFCO is introducing a new
dedicated Overseas Direct Investment (ODI) consulting services
division in China. Leveraging the Aon network of over 500 offices
in more than 120 countries, Aon-COFCO has established the new
benchmark in risk management for the next generation of global
Chinese enterprises. YC Wei said, "By combining the strength of
Aon's global network of risk mitigation and management experts with
our highly focused new ODI consulting practice in China, Aon-COFCO
now offers China's world-class enterprises a coherent package of
services to maximize their success from their overseas investments.
"Backed by the strong support and encouragement of the Chinese
government to invest globally, Chinese firms are keen to continue
to build on China's historic economic growth. However, foreign
investment comes with challenges; whether it is acquisitions of
existing businesses in the West, or major construction project in
developing nations, Chinese firms will encounter a variety of
risks. The key to business success is in knowing how to manage
these risks -- the rewards for success are vast." About Aon-COFCO
Aon-COFCO Insurance is a joint venture between COFCO and Aon Group.
Established in November 2003, it was the first joint
Chinese-foreign insurance brokerage company approved by China
Insurance Regulatory Commission (CIRC) to work on insurance
brokerage, reinsurance brokerage and risk management consultancy.
Aon Corporation is responsible for bringing technology, management
skills and insurance expertise, while COFCO's wide presence in
China provides the joint venture with solid on-the-ground support
necessary for the provision of a superb client service. About Aon
Aon Corporation (NYSE:AOC) is the leading global provider of risk
management services, insurance and reinsurance brokerage, human
capital and management consulting, and specialty insurance
underwriting. Through its 43,000 professionals worldwide, Aon
readily delivers distinctive client value via innovative and
effective risk management and workforce productivity solutions. Our
industry-leading global resources, technical expertise and industry
knowledge are delivered locally through more than 500 offices in
more than 120 countries. Aon was ranked by A.M. Best as the number
one global insurance brokerage in 2007 based on brokerage revenues,
and voted best insurance intermediary, best reinsurance
intermediary, and best employee benefits consulting firm in 2007 by
the readers of Business Insurance. For more information on Aon, log
onto http://www.aon.com/. Media Contact Beijing Chicago YC Wei
David Prosperi (86 21) 3865 8258 312.381.2485
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT:
Beijing, YC Wei, 86 21 3865 8258, , or Chicago, David Prosperi,
+1-312-381-2485, , both of Aon Corporation Web site:
http://www.aon.com/
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