To maintain a “stable corporate structure and capital flexibility” within the European Union, Aon has moved its parent company’s domicile to Ireland, effective April 1, 2020.

The New York-listed company had announced its intent to move after the UK’s decision to leave the European Union in October 2019 and was awaiting approval from the Central Bank of Ireland, even though the company would not be a regulated entity. Aon was also waiting for shareholders’ approval, as well as authorisation from the High Court in England.

The move makes Aon one of Ireland’s largest companies, with a market capitalisation of $44bn (€39.6bn). It is expected that once Aon Plc finishes acquisition of Willis Towers Watson, which also redomiciled to Ireland and still maintains a London headquarters, it will become the world’s largest brokerage firm. Aon will continue to maintain its London headquarters at the Leadenhall Building, and has pledged its continued commitment to the UK insurance market