Aon cuts ties with Trump Organization

Aon PLC is ending its relationship with the Trump Organization, according to sources.

The decision by the insurance broker follows moves by other financial services companies to break with President Trump and his businesses after a pro-Trump mob breached the Capitol last Wednesday.

Aon has been the longtime broker for President Trump’s businesses dating back to long before he became president. It is believed that the decision is in reaction to the violence in Washington. On Tuesday, New York-based Signature Bank said it would close President Trump’s personal accounts with the bank and that it would not do business with any members of Congress who voted against accepting the Electoral College results.

In a statement the bank said: “To witness a rioter sitting in the presiding chair of the U.S. Senate and our elected representatives being told to seek cover under their seats is appalling and an insult to the Republic. We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty.”

President Trump should resign, the statement said.

In addition, according to a report in the New York Times on Monday, Deutsche Bank AG has decided not to do business with Mr. Trump or his company in the future. The German bank has been Mr. Trump’s primary lender for the past two decades, the newspaper reported.

Deutsche Bank declined to comment.

Several large commercial insurers contacted by Business Insurance declined to comment on their business relationship with the Trump Organization, which controls Mr. Trump’s real estate business and other holdings.

Various insurance industry executives spoke out last week condemning the violence in Washington, and this week several industry companies said they would be suspending their political contributions.

Source: Business Insurance