Aon has completed the acquisition of Footman James, the global broker confirmed today.
The terms of the acquisition of the classic car specialist broker from Alchemy Partners were not disclosed. But Aon said the purchase would add “significant complementary skills and resources to Aon's existing personal lines and affinity business”.
The acquisition was predicted by Insurance Times (News 18 Jan 2007).
Footman James will continue to trade under its own name for the foreseeable future, Aon said in a statement.
It added: "Aon ownership will ensure that Footman James continues to remain independent of insurance underwriters so that clients receive the best value and service available.
"Aon's wider product provision, infrastructure and backing will provide Footman James with both stability and the opportunity for future development of the business.”
The transaction will have no effect on existing policies in force and client service will continue uninterrupted, said Aon.
Peter Harmer, chief executive of Aon UK, said: "We are excited about the combination of Aon and Footman James in the personal lines and affinity market and welcome Footman James' clients and staff to Aon."
Paul Matthews, managing director of Footman James, said: "This transaction with Aon presents an exciting opportunity for Footman James. We have built a high quality, competitive and compelling proposition and with Aon's support we will continue to develop and invest in our business for the benefit of our clients and people."
