Aon forms strategic partnership with RBS International
RBS to provide exclusive investment funds to Aon’s captive clients
LONDON, 23 November 2007 – Aon Global Insurance Managers (AGIM), the world’s leading captive management operation, has formed a strategic partnership with RBS International to provide investment cash funds exclusively for Aon’s captive clients.
RBS International is part of the RBS Group, which is the 8th largest banking group worldwide.
The money market fund, known as RBS Global Treasury Fund (GTF), provides same day access. The RBS International offering will provide Letter of Credit facilities at competitive pricing against the security of the fund. The GTF is available in the three main currencies of Sterling, US Dollar and Euro, and is AAA rated by Standard & Poors, Moodys and Fitch.
A US-domiciled fund will be also available in the near future, offering US Dollar and Euro equivalents.
Clive James, global managing director of Aon Global Insurance Managers, comments: “We have been working closely with RBS International over the last year to develop an investment product to meet the specific needs of our captive clients. Our global client base is constantly looking for investment vehicles that are tailored for the unique requirements of the captive industry. The AGIM/RBS International GTF offering can provide the liquidity essential for the industry, whilst providing returns necessary to improve their return on capital”.
Simon Hayward, director of RBS International Treasury & Investor Solutions, commented: “We are delighted to be working with Aon to offer this unique opportunity to their captive insurance client base and are confident this is the basis for a long and mutually beneficial relationship.”
About Aon
Aon Corporation (NYSE:AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. Through its 43,000 professionals worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was ranked by A.M. Best as the number one global insurance brokerage in 2007 based on brokerage revenues, and voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 by the readers of Business Insurance. For more information on Aon, log onto www.aon.com.
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