http://mobile.bloomberg.com/news/2012-01-13/aon-to-move-headquarters-to-london-from-chicago-to-be-near-lloyd-s-market.html
In a world increasingly dominated by pools of money with no obvious owner and no priority beyond generating as much income as possible – regardless of the effects on the communities and countries it affects, moves like Frank -Dodd to “control the excesses of Wall Street” [but exempting Freddie Mac and Fannie Mae] are futile at best. If you make things more hostile for business and start throwing up more types of “crimes” with very vague definitions, people will move out of the country. This isn’t the 1900s and people don’t need to be in the US and play by our “rules”.
AON, the country’s largest insurance broker is moving from Chicago to London (the one in England). They claim this won’t cut jobs in the United States, but that’s because their new office building in London won’t be finished until 2014 and by then, people in the United States won’t remember.
AON is not a company that you likely have heard of – it’s in the wholesale insurance business – primarily a thing called reinsurance. The essssence of insurance is you measure risk and then put a price on that risk. On a large risk with a low probability, any one insurance company can’t afford to have that loss, so a reinsurer sells off chunks of the risk to spread the risk around to other insurance companies.