Aon to acquire Actuarial Sciences Associates
ASA–an independent firm which was initially established as a wholly-owned subsidiary of AT&T in 1985 –currently has over 600 employees in 11 locations in the United States and Canada. The company was founded by its current CEO, Michael J. Gulotta, and had 1999 revenues of $118 million.
"This acquisition strengthens Aon's fast-growing consulting business at a time when our largest corporate clients are seeking fully-integrated solutions to address their employees' changing needs," said Patrick G. Ryan, chairman and chief executive officer of Chicago-based Aon Corp., a holding company of insurance brokerage, consulting and underwriting subsidiaries.
ASA has long-term relationships with prominent clients to whom it provides retirement plan, health and welfare, compensation and a wide range of other employee benefit consulting services. Additionally, ASA's benefits outsourcing business includes the delivery of fully integrated services such as employee call centers, administration of qualified and nonqualified benefit plans, plus Web-based benefits information and administration solutions.
ASA also provides organizational communications consulting related to human resources and strategic marketing as well as compensation consulting services. Consulting is also provided by ASA in corporate restructurings, independent fiduciary counseling and product design and outsourcing of administration for the insurance industry.
Gulotta will assume the role of Chairman, North America Employee Benefits and Compensation Consulting for Aon Consulting.