Aon has announced it has acquired Affinity Insurance Brokers (AIB) expanding its equine, motorsport and leisure business.
The acquisition will see Affinity Insurance Brokers maintain operations out of its Cheltenham, Victoria premises helping Aon expanding its capital city presence.
With over 30 years’ industry experience, AIB is one of Australia’s leading insurance brokers, specialising in the management of affinity and group, general and personal insurance programs.
Lambros Lambrou, CEO of Aon Risk Solutions, said the appeal of Affinity Insurance Brokers was primarily due to its strong equine, leisure and motorsport experience and expertise. The deal will strengthen Aon’s capability in these key markets. Lambrou said “This is further evidence of our deliberate and strategic growth through acquisition. We are actively focused on adding to our footprint both through the establishment of new branches and through the purchase of quality local businesses.
“Under Peter’s ongoing and expert leadership this acquisition will accelerate our business growth by increasing our distribution network, client count and market share. The deal will strengthen our capability in these markets and more than double our equine business.”
Peter Grant, CEO, Affinity Insurance Brokers said, “We are thrilled to be joining Aon’s unrivalled global operations because of the opportunities this opens for existing clients. By utilising world class capabilities to meet local needs, we will be able to build on the excellent service provided by the brokers at Affinity Insurance Brokers giving clients access to Aon’s diverse range of market-leading products and solutions and its depth of expertise”.
Aon’s expanded Victorian presence adds to its national network in every capital city and more than 40 existing metropolitan and regional locations.
The acquisition was finalised on 1 March 2018.