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Borusan appoints Aon Corporation to strengthen risk management

Borusan Holdings, a Turkey-based industry and services group, has appointed Aon Corporation as its risk advisor and broker to strengthen and consolidate the risk management program across its various business divisions.

Borusan has grown at an average annual rate of 13% over the last 10 years and includes businesses from steel, automotives and logistics to renewable energy.

Aon said that its ability to deliver an integrated insurance solution with an international team based out of US, Turkey and Europe, coupled with holistic approach covering all aspects of risk management – from lowering the firm’s total cost of risk and structuring a more comprehensive insurance program to implementing better risk management practices and protocols across the various business units were the critical factors in Borusan choosing Aon.

Aon Risk Solutions’ mergers and acquisitions group managing director Nilufer Durak said with a diverse business portfolio, Borusan’s risk management team faced the challenge of developing a corporate wide risk management protocol and streamlining the insurance-buying and managing process to line up with their core six sigma management philosophy.