Aon acquires Henderson Insurance Broking Group
Aon has acquired Leeds-based Henderson Insurance Broking Group for an undisclosed sum. The addition boosts its retail footprint by 17 offices across the North, while further boosting the firm’s capacity in the mid-market and bespoke solutions segments.
Henderson Insurance Broking Group (Henderson) is a Leeds based independent insurance brokering and consulting business, which provides broad services, including in general insurance, health and benefits, and trade credit insurance. The organisation, which was founded 30 years ago, has grown to a UK footprint of more than 17 offices (largely across the North) housing more than 400 staff, with revenues in excess of £37 million.
Aon recently reported the completion of the move to acquire Henderson, which was announced in October. The reasons cited by the global professional services firm for the acquisition included its strong brand presence across the UK, as well as its talent. Through the acquisition, the firm hopes to further bolster its retail presence in the mid-market and bespoke solutions segments. Henderson will become part of Aon Risk Solutions UK, continuing to provide its services to current, and future clients, as well as draw on Aon’s wider resources and capabilities.
Remarking on the effect of the deal for Henderson, whose own strategic plan was to grow revenues to £50 million by 2020, Joe Henderson, Henderson’s CEO and founder, said, “Our clients will benefit from new access to specialist and global expertise, and Aon’s commitment to continuing our excellent service levels,” he said.
Henderson added that he was confident that colleagues in the firm would seize the opportunity to develop their careers within the frameworks of their new ownership.
Julie Page, CEO ARS UK, said, “I am excited to be working with Joe and the leadership team at Henderson to bring the best of both of our organisations to our clients.”
Earlier this year, Aon acquired Warwick-based Portus Consulting and London-based Mayfair Consultancy Services. Aon’s competitor, Mercer, completed the acquisition of digital benefits firm Thomsons Online Benefits earlier in the year, while Willis Tower Watson was the recent result of a merger of giants Willis Group Holdings and Towers Watson, aimed at creating additional competition in the space – the deal was valued at $18 .
