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Aon acquires bench marking firm Ward Financial from Farmers Insurance

IBR Staff Writer Published 20 July 2011

Aon Corporation, a global insurance group, has acquired Westfield Financial and its subsidiary, the Ward Financial Group, from Ohio Farmers Insurance, for an undisclosed amount.

Westfield Financial is a Cincinnati-based provider of benchmarking and consulting services for the insurance sector.

Aon said Westfield will be integrated with its McLagan Partners, an Aon Hewitt company and a performance/reward consulting and benchmarking firm for the financial services industry.

Following this acquisition, Jeff Rieder, current president of Ward, will continue to lead the group, reporting to Michael Burke, president of McLagan Partners.

Ward's employees are expected to transition to McLagan and remain in Ohio, Ward's current headquarters.

Burke said during the past two decades, Ward has developed a strong brand and established a significant leadership position in the insurance sector throughout North America.

"We intend to build on this success by leveraging McLagan's platform in Europe, the Middle East and Asia to better serve our clients in the global insurance industry. I welcome Jeff and his colleagues to the McLagan team," Burke said.

McLagan chairman Brian Dunn said this acquisition enables the firm to provide performance/reward and solutions to the full spectrum of financial services firms.