It�s a nice sentiment but one that does not always tally closely with Aon�s recent history, littered as it is with significant controversy, including charges of corruption, financial rule-breaking and � most seriously � supporting human rights violations in Burma.
Indeed, in early 2009 the company paid a �5.25 million fine to the Financial Services Authority (FSA) � the UK�s financial regulator � for anti-corruption failings, with the group�s UK subsidiary found guilty of failing to crack down on possible bribery. The FSA found the company had made payments of �1.4 million (�1.26 million) and $3.25 million (�2.13 million) to unnamed third parties as part of Aon�s overseas new business development process.
The payments, made to intermediaries at a Bulgarian insurance company and one owned by the Burmese Government, were among 66 suspicious arrangements with firms in Bahrain, Bangladesh, Bulgaria, Burma, Indonesia and Vietnam, claimed the Times newspaper. Each was reported to the Serious Organised Crime Agency before the FSA�s crackdown.
Perhaps more damaging still was the $190 million settlement that Aon paid to end New York Attorney General Eliot Spitzer�s 2005 investigation into conflicts of interest and alleged fraud at the company. Including settling probes in Connecticut and Illinois Aon paid, without admission of liability, the $190 million over 30 months to policyholders damaged by the company�s actions.