Aon acquires Spanish broker

by Gill Montia

Story link: Aon acquires Spanish broker

Aon has agreed to acquire 80% of Spanish insurance broker, GDS, from La Caixa and Banca March, with an option to purchase the remaining shares in the firm at a future date.

Meanwhile, Spanish bank, La Caixa, will continue to hold a percentage stake in GDS while partnering Aon in plans for the continued expansion and growth of the business.

According to Rafael Esteban, chief executive officer of Aon Spain: “This important agreement consolidates our firm’s ongoing commitment to growth in Spain, especially in Catalonia and in the field of financial institutions.”

Last week, Aon announced that it is relocating its corporate headquarters from Chicago to London.

Describing the decision as an important step in its global growth strategy, Aon explained that the move will allow it to take greater advantage of Lloyd’s and the London market.