Aon plc has acquired the operations of Atlas Insurances Agency, an Israel-based insurance firm that specialises in marine cover.
Atlas has been active in the sector for 50 years and is a Lloyd’s cover holder. Its services include insurance for cargo, hull and machinery, and charterers’ professional liability. The acquisition adds marine insurance capabilities to Aon’s operations in Israel and forms part of its broader growth strategy in the region.
As part of the deal, several Atlas employees will move to Aon. This includes Ronen Hakham-Aharon and Adv. Ohad Hakham-Aharon, sons of company founder Adv. Kaduri Hakham-Aharon. Both have been involved in marine insurance in Israel and participate in training and academic activity related to the sector.
Aon said the acquisition would support its ability to deliver more data-informed marine insurance and risk management services there. It also noted that the integration of Atlas’ operations is expected to strengthen its response to risks linked to developments in trade, technology, climate, and workforce trends.
This latest acquisition follows Aon’s announcement in November 2024 that it had entered into a definitive agreement to acquire Griffiths & Armour, a UK-based insurance broker.
Griffiths & Armour, which has a focus on professional indemnity and general insurance, will become a wholly-owned subsidiary of Aon’s UK operations. Once the transaction is finalised, which is expected in the first quarter of 2025, the firm will operate under the name “Griffiths & Armour, an Aon company.”
Aon also recently reported its financial results for the first quarter of 2025.
Revenue for the period rose by 16% year-on-year to $4.7 billion. The company said the increase was driven by its acquisition of NFP, 5% organic revenue growth, and a 2% negative impact from foreign currency translation.
Meanwhile, adjusted net income attributable to Aon shareholders rose to $1.2 billion, compared to $1.1 billion in the same period last year.
