Aon SA Gets Green Light to Acquire Glenrand Insurance

April 11 - Aon South Africa has been given the green light by the country's Competition Commission to acquire 100% of Glenrand MIB.

The risk management and insurance giant has received regulatory approvals from the Johannesburg Stock Exchange, as well as Glenrand's shareholders and the Securities Regulation Panel.

Around 60,000 new personal lines customers will be added to Aon's client base, over and above the 15,000 corporate and commercial clients.

Aon's network will also be strengthened by Glenrand's presence on the African continent, which includes offices in 14 different countries.

The new joint entity will see over 2,000 people employed, with 17 offices in South Africa alone.

"We are pleased to have reached this stage of the acquisition process," said Anton Roux, the Chief Executive Officer of Aon South Africa and Sub Saharan Africa.

"We are very excited at the possibilities the transaction and our combined teams will bring to the benefit of our clients and colleagues, who will become part of the leading global provider of risk management services, insurance and reinsurance brokerage, and human resources solutions and outsourcing, Aon Corporation."

He added that the transaction will elevate Aon's position in the South African market.

"Together, we will offer a comprehensive range of insurance broking and risk management solutions as well as a full suite of employee benefits products, actuarial and consulting services, and we are committed to providing our clients with a seamless transition with continuity of service," he said.