The Associated Press July 19, 2011, 11:09AM ET

Aon buys Ward Financial; terms not disclosed

Insurance broker Aon Corp. said Tuesday that it bought Westfield Financial Corp., the owner of insurance-industry consulting firm Ward Financial Group, from Ohio Farmers Insurance Co.

Financial terms were not disclosed.

Aon expects the deal to broaden the segment of its business that provides market-trend data including pay and performance information.

Aon will fold Ward into its McLagan Partners subsidiary, which provides similar services to financial firms.

Aon said Ward's president, Jeff Rieder, would stay and report to Michael Burke, president of McLagan Partners. It said Ward employees would remain based in Cincinnati.

Shares of Aon fell 55 cents to $48.33 in late morning trading.

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