In February 2009, Aon Corporation (NYSE: AOC) of Chicago, Illinois completed the sale of the U.S. business of its insurance premium finance subsidiary Cananwill, Inc. to BB&T Corporation (NYSE: BBT) of Winston-Salem, North Carolina. Terms of the transaction were not disclosed.
BB&T owns AFCO Credit Corporation, which is the second largest premium finance company in North America. Cananwill, founded in 1937, is one of the largest insurance premium finance companies in the United States.
Colonnade Securities LLC served as exclusive financial advisor to Aon Corporation and Cananwill on the transaction.