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Aon ends relationship with Trump

Cutting ties: insurance broker Aon has ended its business relationship with the Trump Organisation (File photograph)

Aon, an insurance broker with offices in Bermuda, has ended a business relationship with the Trump Organisation.

The company is one of several to turn their backs on US President Donald Trump’s enterprise since last week’s violent and deadly storming of the Capitol in Washington, DC, by a pro-Trump mob.

President Trump was yesterday impeached by the House of Representatives, which accused him of inciting the violence that delayed lawmakers from certifying President-elect Joe Biden’s victory over President Trump in last November’s presidential election.

Bloomberg News reported that a spokesman for Aon had confirmed that the broker had cut business ties with Trump.

In 2019, Aon received a subpoena from New York’s insurance regulator about dealings with the Trump Organisation.

Other financial businesses to turn their back on the president’s family business include Professional Bank and Signature Bank.

Signature, which shut down Trump accounts containing about $5.3 million, also has a Bermuda connection. In March 2019, the New York-based bank announced that it was prepared to do business with Bermudian-licensed fintech firms, unlike local banks that have shied away from the evolving sector.

On Wednesday, New York City said it would end all business with the Trump Organisation, a move that Eric Trump, the president’s son, said the group plans to fight.

The PGA of America’s board also voted to end an agreement to host next year’s championship at a golf course owned by President Trump.

Real estate firms Cushman & Wakefield and Jones Lang LaSalle, as well as lender Deutsche Bank, have also abandoned the Trump Organisation, as well as Shopify, the Canadian-based business that ran Trump's online shop, while Facebook and Twitter kicked the president off their social networks.

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Published January 15, 2021 at 9:05 am (Updated January 15, 2021 at 9:05 am)

Aon ends relationship with Trump

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