Aon to shift corporate headquarters to London from Chicago

Aon Corp., the world's largest insurance broker, will move its corporate headquarters to London from Chicago to give the firm better access to emerging economies and the Lloyd's of London insurance market.

The move won't trigger any job losses in Chicago, which will remain the firm's Americas headquarters, the broker said today in a statement. The firm plans to add 1,000 jobs across the U.S. this year, it added. Locally, the company also has operations in ake Forest, Downers Grove, Algonquin, Glenview, Rolling Meadows, Des Plaines and Bartlett.

The broker follows rival Willis Group Holdings Inc. in stationing its corporate head office in London, home to Lloyd's, the world's oldest insurance market. Aon, which also offers clients human resources consulting services, is looking to Asia and Latin America to boost growth.

“The move provides greater access to emerging markets and takes better advantage of the strategic proximity to Lloyd's and the London market as one of the key international hubs of insurance and risk brokerage,” Aon said in the statement.

About 20 employees including Chief Executive Officer Greg Case will move to the broker's existing London offices in the city's financial district known as the Square Mile, David Prosperi, an Aon spokesman, said by telephone. The firm will eventually move to a nearby skyscraper known as the Cheesegrater, due to be completed in 2014, he said.

Aon, which employs 59,000 people including 6,000 in the U.K., said the move will also provide better capital allocation and give it financial flexibility. The move is subject to shareholder approval, Aon said.