General Insurance Article - Aon acquires Portus Consulting

 The acquisition of Portus supports Aon’s ambitions to grow its UK employee benefits business both organically and through acquisition. It will join Aon Employee Benefits, which provides consultancy, broking services and technology to 2,500 large and SME corporate clients, covering over 1 million lives in the UK.

 David Battle, CEO of Aon Employee Benefits, UK, said: “There is rising recognition from organisations of the importance of investing in employee benefits. Employers are increasingly encouraging staff wellbeing and retirement savings, which is putting the UK employee benefits market in a period of steady growth. Portus is a great strategic and cultural fit for our business, helping us to consolidate and strengthen our position in the market. Portus has an excellent team, a wealth of knowledge and experience, along with some great technology solutions which complement our own products and services.”

 Stuart Gray, Founder of Portus, said: “This acquisition is bringing together two very strong businesses and the joint team will create vast expertise and offer innovative products to the market.”

 Dave Middleton, CEO of Portus, added: “Both the Aon and Portus leadership teams recognise the strong cultural fit between our two companies, which will ensure a smooth transition for colleagues and clients alike.”

 Terms have been agreed, subject to approval by the Financial Conduct Authority (FCA), and Aon anticipates to complete the acquisition by 31st August 2017.