Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Aon PLC    AON   GB00B5BT0K07

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Aon PLC : Aon Benfield hails Ruschlikon Initiative following 200% annual messaging increase

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/05/2013 | 05:20pm CET

Feb 5, 2013

London, 05/02/13 - Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON), today announces its continued support of the Ruschlikon Initiative, as new data suggest that Ruschlikon is having a positive impact across the industry.

The Initiative, which aims to streamline and automate back office processes, encourages re/insurers to utilize ACORD messaging - a common data standard that allows more seamless communication between counterparties.

In 2012, market-wide cooperation resulted in an increase in global messaging volumes to around 700,000, compared to 215,000 messages in 2011. For 2013, messaging volumes are expected to rise to 2.5 million. 

Around 30 companies are committed to implementing the Initiative's Global Re/insurance Best Practices - Accounting, Settlement and Claims compliant solutions, which cover commercial and reinsurance business across five continents and more than 40 countries, including the London Market.

With a growing number of participants, the Ruschlikon Initiative is contributing to reduced operational costs and enhanced client service; estimates suggest that participants' administration costs can be reduced by up to 30 percent.

Ian Summers, Aon Benfield's Chief Information Officer in the UK, and Chair of The Ruschlikon Steering Group, said: "The reported business benefits make a compelling case for joining the Ruschlikon Initiative. Premiums are settled typically 15 days earlier than via standard processes, unmatched cash is eliminated, and administration costs are reduced by around 30 percent on average, which together better enable the delivery of enhanced client service. In an industry known for its lack of automation, the volumes clearly demonstrate a market that is fully receptive to change. Such industry initiatives need time and commitment; despite the considerable savings potential, mutual exchange capabilities need to be synchronized and processes aligned. The advantages are increasingly acknowledged by decision makers, more on the business side than in the IT department, as the technology is no longer a hurdle."

Further acceleration of the Ruschlikon Initiative is envisaged for 2013, with potential new participants having been identified and the development of dedicated workshops at key industry conferences.

--ENDS--

About Aon Benfield

Aon Benfield, a division of Aon plc (NYSE: AON), is the world's leading reinsurance intermediary and full-service capital advisor. We empower our clients to better understand, manage and transfer risk through innovative solutions and personalized access to all forms of global reinsurance capital across treaty, facultative and capital markets. As a trusted advocate, we deliver local reach to the world's markets, an unparalleled investment in innovative analytics, including catastrophe management, actuarial and rating agency advisory. Through our professionals' expertise and experience, we advise clients in making optimal capital choices that will empower results and improve operational effectiveness for their business. With more than 80 offices in 50 countries, our worldwide client base has access to the broadest portfolio of integrated capital solutions and services. To learn how Aon Benfield helps empower results, please visit aonbenfield.com.

About Aon

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 62,000 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

Media Contacts

David Bogg

+44 (0)20 7522 4016

david.bogg@aonbenfield.com

Andrew Wragg

+44 (0)20 7522 8183

andrew.wragg@aonbenfield.com

Alexandra Lewis

+44 (0)20 7882 0541

alexandra.lewis@aonbenfield.com

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AON PLC
02/24 Investment consultants in joint response to FCA review, quiet on details
02/24 INSIDER TRADING ACTIVITY AON PLC (NY : AON) – CEO Sold 520,000 shares of S..
02/23 AON : Management's Discussion and Analysis of Financial Condition and Results of..
02/23 AON : carries out successful ETV exercise for the Aon Minet Pension Scheme
02/23 AON : South African private equity firm acquires Kenyan unit of Aon
02/22 INSIDER TRADING ACTIVITY AON PLC (NY : AON) – CFO Sold 48,216 shares of St..
02/20 AON : expands partnerships to better serve clients in sub-Saharan Africa
02/17 AON : MasterTrust completes Quality Assurance Framework
02/17 Lloyd's of London set to nominate Carnegie-Brown as chairman - source
02/16 AON : MasterTrust Completes Quality Assurance Framework
More news
Sector news : Insurance Brokers
09:03p AIG LOOKS AT PENALIZING OR OUSTING C : Wsj
08:58p AMERICAN INTERNATIONAL : AIG looks at penalising or ousting CEO over turnaround ..
07:46pDJAIG Directors to Discuss Whether to Penalize or Oust CEO Over Fourth-Quarter ..
07:36pDJAMERICAN INTERNATIONAL : AIG Directors to Discuss Whether to Penalize or Oust CE..
06:33p European shares ease on weaker insurance sector, Italian stocks surge
More sector news : Insurance Brokers
News from SeekingAlpha
02/25 INSIDERINSIGHTS.COM DAILY ROUND UP 2 : Gnc, pjt, aat, arnc
02/23 Tracking Wallace Weitz's Weitz Investment Management Portfolio - Q4 2016 Upda..
02/13 DIVIDEND CHALLENGERS (AND NEAR-CHALL : 87 Increases Expected By April 30
02/13 Blackstone To Acquire Aon Hewitt's Benefits And HR Platform
02/11 Tracking William Von Mueffling's Cantillon Capital Management Portfolio - Q4 ..
Advertisement
Financials ($)
Sales 2017 9 859 M
EBIT 2017 2 261 M
Net income 2017 1 458 M
Debt 2017 -
Yield 2017 1,20%
P/E ratio 2017 21,03
P/E ratio 2018 15,76
Capi. / Sales 2017 3,10x
Capi. / Sales 2018 2,94x
Capitalization 30 609 M
More Financials
Chart AON PLC
Duration : Period :
Aon PLC Technical Analysis Chart | AON | GB00B5BT0K07 | 4-Traders
Full-screen chart
Technical analysis trends AON PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 123 $
Spread / Average Target 5,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Gregory C. Case President, CEO & Executive Director
Lester B. Knight Non-Executive Chairman
Christa Davies Chief Financial Officer & Executive Vice President
John G. Bruno Chief Information Officer & Executive VP
Dick C. Notebaert Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AON PLC4.51%30 666
WILLIS TOWERS WATSON P..4.75%17 458
ARTHUR J GALLAGHER & C..9.43%10 156
BROWN & BROWN, INC.-3.21%6 088
JARDINE LLOYD THOMPSON..5.64%2 773
STEADFAST GROUP LTD7.24%1 364
More Results