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Aon Risk Services and FCC sign an agreement for comprehensive management of FCC's risks

15/12/2009

Aon Risk Services and FCC sign an agreement for comprehensive management of FCC's risks

Aon Risk Services (ARS), the risk management and insurance intermediation unit of Aon Corporation, has signed a long-term agreement to manage FCC's global risk portfolio. The process is expected to be completed by year-end.

FCC Global Insurance Services, the insurance unit that has managed the Group's insurance to date, will be integrated into the AON Group. This transaction will provide approximately 45 million euro in revenue for FCC.

FCC, which is controlled by Esther Koplowitz, is one of Europe's leading providers of services to citizens, operates in 54 countries and employs 94,000 people. Its core businesses are environmental services, water management, cement, construction and management of large infrastructure, and renewable energy production.

'As a result of the FCC Group's rapid international expansion, in just five years we have attained a situation where over half of the group's revenues come from outside Spain. The volume of premiums and the constant search for greater efficiency in the area of insurance made it advisable to partner with a top-level insurer; FCC is very satisfied to have reached an agreement with AON, which is indisputably the best option at this time for a multinational group like ours', said Baldomero Falcones, Chairman and CEO of FCC.

'This agreement strengthens ARS's position in the areas of construction and public services in Europe,' said Steve McGill, Chairman and CEO of Aon Risk Services. 'FCC is a highly diversified international company with a complex risk profile. Aon Risk Services is pleased to have been chosen as FCC's long-term partner to manage its risk portfolio and help it capitalise on its captive business. Aon Risk Services really is the best partner for any multinational organisation with similar strategic goals.'

Rafael Esteban, CEO of Aon in Spain, added, 'this agreement strengthens Aon España's leading position as the broker with the greatest capacity to offer risk management services in the construction, infrastructure and energy industries'.

Aon

Aon Corporation (NYSE: AON) is a leader in the area of risk management, insurance, reinsurance and human resources consulting, and insurance and reinsurance intermediation. Aon Corporation has a solid international structure, with 37,000 employees and 500 offices in 120 countries, enabling it to provide clients with a value-added service through effective, innovative solutions in the area of risk management and human resources productivity.

Euromoney magazine named Aon as the world's best insurance intermediary in 2008 and 2009, and it was named by A.M. Best as the top global broker in terms of revenues in 2007 and 2008. Aon was also ranked as the best insurance and reinsurance broker and best employee benefit consulting firm in 2007, 2008 and 2009 by the readers of Business Insurance magazine.