London - 24th March 2004 - National Property Solutions (NPS) announced today (Wednesday) that it has acquired Aon Property Solutions, a division of the Aon Managed Solutions business.
NPS is a new company which has been established by Paul Cresswell, former Chairman and Chief Executive of Aon Managed Solutions, and former directors Stephen Webster and Nick Haycock.
NPS Chairman Paul Cresswell said : "We are delighted with the outcome of our negotiations with Aon. We have put together a strong management team with prior experience in successfully developing this type of business and we look forward to building on the company's existing position as a market leader in the provision of outsourced building repair and maintenance services."
Mr Cresswell continued: "Following our acquisition we are very well placed to grow our property business in the near future. Our mission is simply to build on Aon's strong performance in this sector and be the most trusted and reliable provider of property services in the UK."
"Philip Gore-Randall, CEO of Aon Risk Services said: "This sale is consistent with our global strategy of exiting non-core businesses, to focus on our core businesses of insurance broking, risk management and human capital consulting.
"We are confident that the new management will continue to drive the growth of the business and its staff, added Mr Gore-Randall."
About Aon
Aon is the UK's largest insurance broker and provider of risk management services, a major force in reinsurance and number four in the UK human capital consulting market. With more than 10,000 staff spread across 90 UK offices, Aon combines an in-depth knowledge of the UK market with an unmatched global reach and perspective. Aon's structure cuts across boundaries and unites specialists from around the world in global business units. Around the world, Aon posted 2002 revenues of $8.8 billion dollars, and has more than 54,000 employees in 600 offices across 125 countries, servicing clients' requirements at a global level whilst responding to clients' specialist needs in individual markets.
About National Property Solutions (NPS):
The Board of NPS is comprised of: Paul Cresswell (Executive Chairman); Stephen Webster (Chief Executive Officer); Nick Haycock (Managing Director).
Issued on behalf of NPS by Remington Communications Ltd.
Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.
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