Aon plc has announced a co-broking agreement with Protecdiv, a certified minority-owned insurance and reinsurance broker. The partnership aims to provide enhanced risk-management solutions for US public and private-sector clients.
AM Best reported that the partnership aims to address the diverse and complex needs of these sectors by leveraging Protecdiv’s expertise and Aon’s global capabilities.
Established in 2018 and launched in the US in 2020 by chief executive officer T. Kael Coleman and chief operating officer Paul C. Little, Protecdiv specializes in serving public entities, specialty markets, and multinational clients. Its services span property, casualty, mortgage, and credit risk transfer.
Protecdiv has since actively pursued partnerships to strengthen its capabilities. The company previously collaborated with firms such as BMS Group, Cobbs Allen, and CAC Specialty to expand its offerings across various markets.
As the only certified minority-owned enterprise broker offering full-service insurance and reinsurance, Protecdiv brings a distinct focus on underrepresented client needs to the latest partnership with Aon.
"Aon is committed to making investments to increase our capabilities on behalf of the needs of our clients," said Lori Goltermann, Aon's CEO of global regions and North America, in a statement to AM Best.
The announcement follows Aon’s financial performance in the fourth quarter of 2024. The company recently reported $4.1 billion in revenue, a 23% increase from the previous year, driven by acquisitions and organic growth. Risk capital revenue rose by 13% to $2.5 billion, while human capital revenue increased by 41% to $1.6 billion.
Read more: Aon reports 23% increase in revenue
The agreement with Protecdiv comes as Aon continues to expand its presence in the insurance market.
In 2024, the company acquired NFP Corp. to broaden its reach within the middle market.
Aon chief financial officer Edmund Reese recently noted that the company has a “robust” mergers and acquisitions (M&A) pipeline for 2025, with several middle-market transactions expected to close in the first quarter through NFP. Reese highlighted the ongoing focus on growth in this segment to meet client demands.
As public and private sector challenges grow more complex, how will partnerships like this reshape the future of insurance services? Share your thoughts in the comments below.
