Aon has acquired niche broker Firebond to strengthen its position in the classic car sector.
The move follows the purchase of Footman James for £80m in January.
Firebond provides cover for specialist personal risks, including prestige sports and classic cars. It has 13,000 policyholders, and controls £4m of GWP. It has offices in Cambridge and Bingley, and employs 15 staff.
A spokesman for Aon described the addition as a “neat bolt-on,” and said that the deal was the result of an extended period of negotiations.
Aon recently moved its classic car business to Footman James’ office in Dudley.
The spokesman said Aon would continue to explore the acquisition of further niche brokers to grow its mid and high net worth specialist vehicle books.
Peter Harmer, chief executive of Aon UK, said: “Firebond is a natural fit with both the Aon Classic Cars business and our Footman James business.
“Our wider product provision, infrastructure and backing will provide Firebond with new opportunities for the future development of the business.”
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