OTHER NEWS - July 27, 1992
From Times Staff and Wire Reports
Deal for Reliance Unit: Aon Corp. said it agreed to acquire Frank B. Hall & Co., a unit of Reliance Group Holdings Inc., for about $475 million. Aon said it will pay Frank B. Hall as much as $125 million in cash and $350 million in preferred stock. The transaction is expected to be completed in the fourth quarter. Aon, with assets of $12 billion, is a holding company whose subsidiaries sell life, accident and health insurance products. Frank B. Hall provides insurance brokerage and employee benefit consulting services in the United States and abroad. It operates 115 offices in 50 countries and had 1991 revenue of $462 million.
