Thu, 02 Jan 2025 | BUSINESS SALE
Global insurance and reinsurance broking group Aon has completed its acquisition of Liverpool-headquartered insurance broker Griffiths & Armour.
The deal, which was first announced in early November, was finalised on New Year’s Day and forms part of Aon’s strategy to broaden its regional footprint in the UK and Ireland.
Griffiths & Armour has around 200 employees and is known for its specialist expertise in professional indemnity insurance and general insurance broking. It covers professional risk, business risk and private client work across a range of sectors such as renewable energy, finance and property.
According to its most recent results for the year to 31 March 2023, Griffiths & Armour recorded turnover of £4.3 million, up from £3.9 million in the previous 12 months. Its profit came in at £3.3 million, up from £3.2 million.
As part of the acquisition, Aon, which has a presence in over 120 countries, is committed to Griffiths & Armour's Liverpool office at Princes Dock and its team in Liverpool, Manchester, Dublin and London.
Moving forward, Griffiths & Armour will be wholly owned by Aon and operate under the name “Griffiths & Armour, an Aon company.”
Jane Kielty, UK CEO of Aon, commented: “We are delighted to welcome our new Griffiths & Armour colleagues to Aon following the completion of this acquisition. Griffiths & Armour is an outstanding business with an exceptional reputation in the market. Together we will focus on providing our clients with excellent, market-leading expertise and our complementary cultures and capabilities will create an unparalleled offering across the UK and Ireland.”
Carl Evans, Chairman of Griffiths & Armour, said: “Joining the Aon family reflects our shared commitment to deliver exceptional client service, innovative solutions, and maintain a culture built on trust and integrity. It will enable us to continue to deliver exceptional client service with an unwavering focus on securing the best outcomes for our clients, colleagues, and partners.”
Find out more about M&A in the financial services sector
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