Page "Aon plc" Paragraph 11
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In 1982, after 10 years of stagnation under Clement Stone Jr., the elder Stone, then 79, resumed control until the completion of a merger with Ryan Insurance Co. allowed him to transfer control to Patrick Ryan.
Ryan, the son of a Ford dealer in Wisconsin, had started his company as an auto credit insurer in 1964.
In 1976, the company bought the insurance brokerage units of the Esmark conglomerate.
Ryan focused on insurance brokering and added more upscale insurance products.
He also trimmed staff and took other cost-cutting measures, and in 1987 he changed Combined's name to Aon.
In 1992, he bought Dutch insurance broker Hudig-Langeveldt.
In 1995, the company sold its remaining direct life insurance holdings to focus on consulting.
The following year it began offering hostile takeover insurance policies to small and midsized companies.
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