CHICAGO (AP) — Insurance brokerage Aon says it will move its corporate headquarters from Chicago to London to improve its access to emerging markets.
Aon says the move also will help it take advantage of strategic proximity to Lloyd's and the London market, which it calls one of the key international hubs of insurance and risk brokerage.
The company will change its jurisdiction of incorporation from Delaware to England. Shareholders will receive one share of the newly formed English public limited company for each share of common stock.
The move needs shareholder approval, and Aon expects it to close in the second quarter.
The company says Chicago will remain its headquarters for the Americas and the move won't result in job loss in Chicago or the United States.
Aon provides risk management, insurance and reinsurance brokerage and human resources services.