The acquisition will strengthen Aon’s presence in the UK and Ireland. Credit: JHVEPhoto/Shutterstock.

Professional services company Aon has entered a definitive agreement for the acquisition of UK-based insurance broker Griffiths & Armour.

This move is set to offer a wider range of solutions for clients of both companies.

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Upon deal completion, Griffiths & Armour will become a wholly owned subsidiary of Aon UK and will trade as Griffiths & Armour, an Aon company.

With extensive presence in the north of England, Griffiths & Armour has expertise in professional indemnity insurance and general insurance broking.

The business employs nearly 200 people.

Aon has also pledged its commitment to Griffiths & Armour’s existing offices including its Liverpool headquarters at Princes Dock, and its teams in Liverpool, Manchester, Dublin and London.

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Aon CEO Greg Case said: “As we continue to go further, faster to help our clients navigate growing uncertainty and volatility, we are looking forward to welcoming Griffiths & Armour to Aon.

“Our complementary capabilities and cultures will create unmatched client and colleague experiences across the UK and Ireland and contribute to our global 3×3 Plan to accelerate our Aon United strategy.”

This deal is in line with Aon’s vision to enhance its service offerings and leverage complementary strengths to drive growth in the UK, Ireland and beyond.

The completion of the transaction is expected in the first quarter of 2025 (Q1 2025), contingent upon standard conditions such as regulatory approvals.

Until the transaction is finalised, Aon and Griffiths & Armour will continue to operate independently.

Griffiths & Armour general insurance CEO Matt Donnelly said: “We have long-regarded Aon for its professionalism and client service excellence.

“In them we have found a partner who will not only help deliver continued growth but also preserve and embrace the culture that we and our client community hold dear.”

In Q3 2024, Aon reported net income attributable to its shareholders of $343m, down 25% from a year ago. However, total revenue climbed 26% to $3.72bn, benefitting from the acquisition of NFP.