Broker says disposal will allow it to focus on ‘single-brand strategy’
Aon has completed the sale of its classic car broker Footman James to Towergate.
Insurance Times reported on 14 November that Towergate was in advanced talks to buy Footman James.
Aon said: “The disposal will allow Aon Risk Solutions in the UK to concentrate on its single-brand strategy and core strategic offering of risk management and insurance brokerage.”
The company added that Footman James will transfer to Towergate on completion of full terms, and all employees will transfer to Towergate under Transfer of Undertakings (Protection of Employment) regulations.
Footman James will be Towergate’s 15th acquisition of 2013.
Towergate chief executive mark Hodges said: “Acquiring and integrating good quality businesses is central to our growth strategy.
“Footman James has built a market leading specialist motor operation with a strong track record and brand identity, complementing Towergate’s existing cherished car book.
“I’m delighted to welcome Footman James to the Towergate Group and we will work hard to integrate the business over the coming months.”