Insurance Business Aon completes sale of outsourcing platform

Aon completes sale of outsourcing platform A leading global professional services firm has announced a sale that allows it to sharpen its focus on delivering client advice and solutions, and enhances return on invested capital.

Aon has completed the sale of its benefits administration and HR BPO platform for cash consideration of $4.3 billion at closing, plus up to $500 million based on future performance, to private equity funds affiliated with Blackstone.

After customary working capital and other adjustments, the total after-tax proceeds were roughly $3.0 billion.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now

Greg Case, president and CEO of Aon plc., commented on the deal: “The completion of this transaction reinforces our position as the leading global professional services firm providing a broad range of risk, retirement, and health solutions.

“The incremental capital we have generated allows us to accelerate investment in our proprietary data and analytics capabilities and pursue new opportunities to address emerging client needs, similar to recent acquisitions in the cyber risk advisory and health solutions space.”

Related stories:
Aon study reveals ‘serious disconnect’ in risk management
Aon reveals biggest risks facing companies worldwide