Aon buys out Russian unit

MOSCOW, Russia—Aon Holdings B.V., a unit of Aon Corp., has bought the 51% of Aon Rus L.L.C. it did not previously own.

Aon said the deal would better enable it to meet the needs of its clients in Russia.

"The Russian market is becoming very mature and now we are even better prepared to meet the challenges ahead," Rim Knaup, Aon's chief executive officer of the Nordic countries, Central and Eastern Europe, the former Soviet Union and Israel, said in a statement.

In November 2005, Aon agreed with Corporation Risk L.L.C., the then majority owner of Aon Rus, that it would buy out the 51% stake. The Russian regulator agreed the deal in July 2006, and the acquisition was completed in December, Aon said.