Aon has announced the merger of the facultative reinsurance broking team within its Singapore Broking Centre with Reinsurance Solutions’ APAC facultative team.
The combined facultative reinsurance broking team, which is a part of Aon’s Reinsurance Solutions, will serve its clients in the Asia Pacific region.
Aon expects the merger to allow focused investments in expertise, data, analytics, and trading solutions along with a coordinated approach to working with partners.
It also seeks to develop further opportunities from the growth in the facultative reinsurance market in the APAC region.
Geoff Lambrou will lead the new team as CEO, facultative – Asia Pacific and will report to George Attard, APAC CEO of Reinsurance Solutions.
Lambrou is also aligned with Andrew Laing, global CEO of facultative for Reinsurance Solutions and will have the responsibility of developing and executing APAC’s facultative reinsurance growth plan with Reinsurance Solutions’ teams.
Earlier this month, Aon acquired a 100% stake in Aon India Insurance Brokers.
It previously owned a 49% stake in the Indian insurance brokers, which it acquired from Catamaran Ventures in 2020.
The business was then called Anviti Insurance Brokers and was renamed Aon India Insurance Brokers in June this year.
Aon was also in news recently for its proposed $30bn acquisition of Willis Tower Watson (WTW).
However, Aon and WTW decided to call off their merger agreement in July this year.