Aon Might Settle Case in New York
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Aon Corp., the world’s second-largest insurance broker, might pay $190 million to settle fraud investigations by New York Atty. Gen. Eliot Spitzer and two other states, people familiar with the matter said.
The settlement, which may be announced as soon as tomorrow, would end probes by New York, Connecticut and Illinois into commissions that Spitzer has called kickbacks from insurers. Aon spokesman Gary Sullivan and Spitzer spokesman Darren Dopp declined to comment.
The agreement would follow an $850-million settlement Spitzer struck in January with Marsh & McLennan Cos., the world’s largest broker. It would resolve one of investors’ main concerns at Chicago-based Aon, which is also searching for a new chief executive to replace founder Patrick Ryan, 67.
Shares of Aon fell 7 cents to $24.17 on the New York Stock Exchange.
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