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Aon (SWOT Analysis)

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“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

Aon

Aon Corporation (Aon or the company) is engaged in providing insurance and risk management, human capital consulting, and insurance underwriting services. It operates in more than 120 countries. It is headquartered in Chicago, Illinois and employs about 37,700 people.

Strengths, Weaknesses, Opportunities and Threats (SWOT)

Location of Factor

TYPE OF FACTOR

Favorable

Unfavorable

Internal

Strengths

  • Industry-wide recognition as the leading global insurance brokerage enables sustain client base
  • Rapidly growing Aon-COFCO Insurance in China diversifying operations
  • Completion of restructuring operations and divestment of non-core assets

Weaknesses

  • Benfield merger weakened liquidity position
  • Increasing unfunded status of pension plans impacting liquidity and returns

External

Opportunities

  • Continued investments in business sustain growth momentum
  • Decline in insurance capacity has tilted bargaining power to reinsurance players
  • Increasing healthcare spending in the US

Threats

  • Insurance industry’s prospects affected by global economic conditions
  • A recession-related slump in demand could trigger unexpectedly fierce price competition
  • Increased incidence of natural disasters testing claims paying capability
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