|Merger will create more health and benefits offerings for clients
LONDON, 17 March 2014 – Aon, the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services (NYSE: AON), has agreed to acquire, subject to regulatory confirmation, Lorica Employee Benefits, one of the UK's most experienced and well-respected consultancy groups. Lorica Employee Benefits is a specialist provider of consultancy, support and technology in corporate pensions, health, wellbeing and group risk.
By joining forces, Aon and Lorica Employee Benefits will be able to deliver significant employee benefits experience to organisations across the UK. Lorica Employee Benefits has been operating in the UK since 1990, has over 150 employees and provides extensive consultancy services to over 1000 corporate clients.
Jim Herbert, Chief Executive Officer, Aon Risk Solutions, UK, said “This is a groundbreaking announcement for the UK benefits market, bringing together two of the key organizations in this space. We are delighted to welcome Lorica Employee Benefits into the Aon group. This is part of our ongoing strategy to develop and grow our offering in the UK and this new partnership will enable us to provide market-leading, bespoke health and benefits solutions to our clients and future clients.”
David Battle, Chief Executive Officer, Lorica Employee Benefits,said, “We’ve been on a five year programme to ensure Lorica Employee Benefits is a leading provider of employee benefits. Joining with Aon is a continuation of our ambition to grow both the range of services we offer and the number of customers we work with. By combining two of the most respected players in the market, we strengthen our offerings and enable the new joint team to bring more experience, intellectual property and unique products to national and international clients.
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon’s global partnership and shirt sponsorship with Manchester United.
About Lorica Employee Benefits
Lorica is a market-leading employee benefits provider and consultancy. It offers bespoke consultancy and expert support in the following core areas: corporate pensions (workplace savings and actuarial); flexible benefits; benefits and reward consulting; employee financial education; and health, risk and wellbeing. Lorica’s objective is to enable clients to quantify and improve upon the investment they make in their most important asset - their employees. Lorica Employee Benefits has recently achieved ‘Firm of the Year’ status in the Corporate Adviser Awards, partly because of its continuing drive to create never-seen-before technology in the UK market. This technology also won ‘Best use of technology by a corporate adviser’ at the same awards ceremony.