Business Services Industry
Acquisition to enhance Aon RMIS offerings.(News)(Risk Laboratories L.L.C., )(Risk Management Information System )
Business Insurance, March, 2004 by Wojcik, Joanne
Byline: JOANNE WOJCIK CHICAGO-Broker Aon Corp. is buying risk management information system vendor Risk Laboratories L.L.C., creator of RiskConsole, and phasing out its own RMIS product. Terms of the sale, which closed Feb. 12 but was not made public until March 22, were not disclosed. However it was an acquisition of 100% of the outstanding shares of RiskLabs from its former owner, American Home Assurance Co., a unit of American International Group Inc.
of New York. The decision to purchase RiskLabs came nearly a year ago, when Aon was rethinking its RMIS marketing strategy, according to Mark Stephens, managing director of Aon eSolutions, the technology arm of the Chicago-based broker. Aon's RMIS product, Risk Monitor, "was a market-leading product in...
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