25th January 2012
Aon has said it has reached an agreement with La Caixa and Banca March and has acquired 80% of GDS insurance broker, with an option to purchase the remaining shares at a future time. Financial terms were not disclosed.
La Caixa, one of Spain’s leading financial institutions, will continue to hold a percentage stake in GDS for the time being, and will become a partner of Aon through a joint venture created to improve the continued expansion and growth of this business.
According to Rafael Esteban, ceo 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. The joint venture with La Caixa will strengthen our position in the market with the help of a strong strategic partner and allow us to enhance our ability to provide the best solutions to customers”.
Steve McGill, chairman and ceo of Aon Risk Solutions, the firm’s global risk management business, added “This acquisition brings together two premier organisations and reinforces Aon’s strong commitment to Spain and Europe. Combining the best talent between the two firms enhances our ability to deliver world-class solutions to our clients.”