Cananwill Europe

Cananwill Europe Ltd. was established in 1998 in order to provide Aon's clients with an exclusive, superior premium finance service. Cananwill Inc., (a wholly owned subsidiary of Aon) is one of the world's largest premium finance companies, providing nearly $5 billion in annual loans.

All Aon UK offices are authorised to offer premium finance loans to their clients for up to £150,000 without prior reference to Cananwill, subject to some simple rules defined in their published rate card. Loans over this amount can generally be agreed within 8 hours of application to Cananwill. Loans can also be tailored to meet a client's specific needs and finance can be provided for fees, inspections and multi-year policies in a variety of currencies. The documentation is easy to complete, and once signed by the client, does not require annual renewal. All payments and collections are normally effected by direct debit, with funding available for all types and values of general insurance premium, subject only to a minimum charge of £50.

The principal purpose of premium finance is to smooth a client's cash flow through the payment of premiums on a monthly basis. Cananwill's service can also be used as a substitute for insurer instalment schemes, providing greater flexibility, and often benefiting from a discount from the insurer in return for up-front payment.

Cananwill Europe has developed a highly efficient dedicated system using sophisticated online computing, which can cut costs and eliminate unnecessary clerical work.