Insurance and reinsurance brokerage Aon has finalized its acquisition of Brazilian health and benefits brokerage and solutions company Admix.
The acquisition was closed following the meeting of customary closing conditions and getting the necessary regulatory approval.
As per Aon, the addition of Admix to its fold complements its present capabilities besides doubling its reach in Brazil. Additionally, it will also expand Aon’s ability to serve clients across the Latin American region and elsewhere in the world.
Aon Health & Benefits CEO John Zern said: “Admix’s brokerage and operational platform combined with Aon’s world-class actuarial, brokerage, and consulting capabilities creates the largest, deepest and most experienced Health & Benefits team in the Brazil market.
“Bringing together Aon and Admix allows us to expand our capabilities to better serve clients throughout Latin America.”
Admix, which has been in business for over 25 years, is headquartered in São Paulo, Brazil and employs over 900 people.
It claims to have over 1.4 million beneficiaries across nearly 6,700 firms of all industries and sizes in various places while having about BRL$2bn ($310m) in health and benefits premiums every year.
Admix, which is said to have over 500 associated brokers, is focused on the SME market in Brazil.
Aon headquartered in London is a global provider of risk management, insurance brokerage and reinsurance brokerage.
Earlier in the month, Aon launched a three step solution dubbed Brexit Navigator which is said to be designed to help companies manage Brexit risks and opportunities.
In November last year, Aon completed acquisition of New York City based global risk management company Stroz Friedberg.
Image: Aon Building, Chicago, IL, USA. Photo: courtesy of J. Crocker and Wikipedia.org.