Aon acquires Greek broker

Aon Benfield, the reinsurance intermediary and capital advisor of Aon, 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 €15 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.

Richard Posgate, co-chief executive officer of Aon Benfield in EMEA, said: “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.”

Manolis Siatounis, managing director of Safe Brokers, added: “We are thrilled to be joining Aon Benfield and working together to provide an even stronger service to clients in the region.”