Aon has bought a Cheltenham-based insurance brokerage as part of its focus on growth through acquisition.
The acquisition of Affinity Insurance Brokers (AIB) was finalised on 1 March 2018, and Aon chief executive for risk solutions Lambros Lambrou said it was “further evidence of [the company’s] deliberate and strategic growth through acquisition”.
Mr Lambrou said Aon was interested in AIB due to its strong experience in the equine, leisure, and motorsport fields.
AIB will continue operating from its Cheltenham office under the leadership of chief executive Peter Grant, Aon said.
“Under Peter’s ongoing and expert leadership this acquisition will accelerate our business growth by increasing our distribution network, client count and market share,” said Mr Lambrou.
“The deal will strengthen our capability in these markets and more than double our equine business.”
Mr Grant said AIB is “thrilled” by the acquisition and the opportunities it presents.
“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.”