Aon Corporation (NYSE: AOC) of Chicago, Illinois has completed the sale of the Australian business of its insurance premium finance subsidiary Cananwill, Inc. to Allianz Group (ETR: ALV) of Munich, Germany. Terms of the transaction were not disclosed.
Allianz owns Hunter Premium Funding Ltd, a leading premium finance company in Australia and New Zealand.
Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction.
The Allianz Group is one of the leading integrated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market leader in the German market and has a strong international presence. More information about the company is available at www.allianz.com.