Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has acquired Safe Brokers to strengthen its investment in the Greek and Cypriot markets.
Safe Brokers is an independent reinsurance broker with facultative and treaty premium of approximately EUR15 million from Greece and Cyprus. Founded in 2011 by Stelios Assariotis and Manolis Siatounis, the team of 11 colleagues will be joining Aon Benfield at the start of November. The move will enhance local expertise in the firm’s Athens office and reinforces Aon Benfield’s strategy of investing in a global network.
Richard Posgate, co-CEO of Aon Benfield in EMEA, commented: “The acquisition is the exciting next stage of our strategy to invest in Greece and Cyprus. We have seen Safe experience strong growth since inception and its management team is very well respected in the Greek and Cypriot marketplace. It is a privilege to join forces and demonstrate our commitment to the market.”
Stelios Assariotis, chairman of Safe Brokers, said: “From significant earthquake risks to an evolving economy, Greek and Cypriot insurers need local experts on the ground to understand their unique challenges and growth opportunities.”
Source: Aon Benfield
Topics Mergers & Acquisitions Agencies Aon
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