Aon has successfully finalized its purchase of middle market property & casualty broker NFP from funds affiliated with Madison Dearborn Partners and HPS Investment Partners.
Chief executive Greg Case (pictured) called April 25 “a historic day for our firm” as Aon welcomed NFP to the group. It was noted that, as an Aon company, NFP will operate as an “independent and connected” risk capital and human capital capabilities platform.
“With high-performing teams and leading content and capability – further enabled by our Aon Business Services operating platform – we will create more value for our clients, while also enhancing long-term shareholder value creation for investors,” Case said.
“This acquisition is another example of how we are going further, faster with our 3x3 Plan to accelerate our Aon United strategy and further enhance our relevance to clients.”
Snapping up NFP significantly boosts Aon’s footprint in the middle-market sector, incorporating over 7,700 professionals with expertise in property & casualty brokerage, benefits consulting, wealth management, and retirement plan advisory.
NFP will continue its operations under the leadership of its CEO, Doug Hammond, who will report to Aon president Eric Andersen.
“The idea of being ‘independent and connected’ is key to how we will collaborate and create more options for clients across our risk capital and human capital capabilities,” Andersen noted.
“Doug and his team have built an exceptional client-centred business, and we are focussed on using our Aon Business Services platform to scale delivery of new capabilities to small and middle market clients across Aon and NFP.”
For Hammond, the completion of NFP’s sale is the start of “an exciting new chapter” in the broker’s history.
“We look forward to the positive impact that our complementary expertise and capabilities will have on all stakeholders,” he commented. “Aon’s diverse resources and global reach enhance our ability to serve the dynamic risk, workforce, wealth management, and retirement needs of our clients.
“We remain focussed on both advancing a culture colleagues want to be part of and working together to contribute to our collective growth and success.”
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