Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, filed a preliminary proxy statement today to move the jurisdiction of incorporation for the firm’s parent company from the United Kingdom (UK) to Ireland. Remaining within the European Union single market will help the firm maintain a stable corporate structure and capital flexibility.
The move is expected to drive ongoing shareholder value creation through effective capital management that maximizes return on invested capital. Moving the jurisdiction of incorporation for Aon’s parent company will not result in any material change to Aon’s current business operations, reporting requirements or listings. The transaction is expected to be completed in the first quarter of 2020.
Aon will maintain the firm’s operating company headquarters at the Leadenhall Building in London and the firm’s commitment to the UK and the important London insurance market remains unchanged and unrivalled. Over the last several years, Aon has solidified its position in the UK domestic market, with the acquisitions of, among others, Henderson and Portus Consultancy, which doubled the firm’s retail business within the UK, and added 500 UK colleagues.