Up to 700 jobs to go as Aon completes acquisition of Benfield

Aon said an "estimated 500 to 700 positions, predominantly non-client facing roles, are expected to be eliminated as part of the plan", which will make for a new "streamlined" company.

It added that the job losses - as part of the restructuring plan - will cost $185m, or £120m.

"The restructuring plan, before any potential reinvestment of savings, is expected to deliver approximately $33-41m (approximately £21-27m) of savings in 2009, approximately $84-94m (approximately £54-61m) of savings in