BEIJING(PRNewswire) — Aon-COFCO, China's pre-eminent joint-venture and risk consulting company, has announced that it ranked number one in the international brokers league, and ranked third overall in the region, according to a recently published report by the China Insurance Regulatory Commission (CIRC).

Citing China's extremely rapid growth in domestic consumer demand and inward investment, YC Wei, chief executive officer of Aon-COFCO, said: "China's significance in the global economy cannot be overstated. With the commitment of Aon Corporation, Aon-COFCO is the only international broker in China who can really 'think globally and act locally' with success. Our long-standing relationship with the insurance market and the CIRC allows Aon to expand its network in China at a healthy and effective pace."

Bernie Fung, chairman and chief executive officer of Aon Asia Pacific, added: "The unmatched presence of Aon-COFCO has given us a very strong foundation in the Chinese market, and it has helped Aon to expand its market presence in local indigenous corporations who are growing not only in China but throughout the world."

According to the CIRC second quarter 2007 report on Intermediary Market Developments in China, Aon-COFCO Insurance Brokers Company Limited was the largest international broker with 4.89 percent market share, and the third largest broker overall behind Chang'An Insurance Broker Company, and Jiang Tai Insurance Broker Company.

As part of its growth strategy, Aon-COFCO is introducing a new dedicated Overseas Direct Investment (ODI) consulting services division in China.

Leveraging the Aon network of over 500 offices in more than 120 countries, Aon-COFCO has established the new benchmark in risk management for the next generation of global Chinese enterprises.

YC Wei said, "By combining the strength of Aon's global network of risk mitigation and management experts with our highly focused new ODI consulting practice in China, Aon-COFCO now offers China's world-class enterprises a coherent package of services to maximize their success from their overseas investments.

"Backed by the strong support and encouragement of the Chinese government to invest globally, Chinese firms are keen to continue to build on China's historic economic growth. However, foreign investment comes with challenges; whether it is acquisitions of existing businesses in the West, or major construction project in developing nations, Chinese firms will encounter a variety of risks.

"The key to business success is in knowing how to manage these risks — the rewards for success are vast."

Aon-COFCO Insurance is a joint venture between COFCO and Aon Group. It was established in November 2003 and was the first joint Chinese-foreign insurance brokerage company approved by China Insurance Regulatory Commission to work on insurance brokerage, reinsurance brokerage and risk management consultancy.