Aon Groep Nederland has agreed to purchase Aegon’s Unirobe Meeùs Groep (UMG) for €295 million (approximately AU$439 million).
No other financial details have been provided, but Aon noted that the transaction is subject to works council advice and approval by the Dutch regulators.
The global professional services firm – which employs over 50,000 people in 120 countries – said its acquisition encompasses the whole of UMG. One of the largest players in the intermediary market, UMG serves around 580,000 individuals and 74,000 companies.
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“On completion Aon will be the leading insurance broker and risk advisor in all business-to-business market segments in the Netherlands,” read Aon’s announcement.
There were more than 1,300 staff at UMG at the end of 2016. Aon, on the other hand, has 1,540 employees across eight branches in the Netherlands.
Marc van Nuland, country manager of Aon Netherlands, said: “This acquisition will drive value for clients of both UMG and Aon as we combine the knowledge and experience of UMG with Aon’s teams in the Netherlands, as well as with our global network.”
The deal is expected to close in the fourth quarter of 2017.
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