Aon Aminim has acquired the business of Fredy & Ilan Beck Insurance Brokers in Haifa, Israel, subject to approval of the relevant authorities. The businesses of Aon Aminim, Tel Aviv, and Fredy and Ilan Beck will be merged to become Aon Israel Insurance Brokerage. The new organisation will be one of the largest retail insurance brokerage companies in the country. Terms of the transaction were not disclosed.
Ilan Beck will become a shareholder of the combined company and the Chief Executive of Aon’s insurance brokerage business in Israel. Beck works with the founder of Aon Aminim, Ephraim Kriel, in bringing the two teams together. Kriel will also chair a country board established to represent all of Aon’s interests in Israel.
“We had been considering for a while giving a new dynamism to continue to drive our business forward and I am delighted that my initial discussions with Ilan Beck have proved so successful and resulted in this coming together,” says Kriel. “I am confident this acquisition will place us at the forefront of the insurance broking community in Israel.”
“My father established the foundations of our business and we have successfully grown from our base in Haifa to not only serve clients there but also in Tel Aviv, throughout Israel and internationally,” says Ilan Beck. “We will now be able to adopt a pan-Israel service level to all our mutual clients and I am looking forward to working with Ephraim and other colleagues of Aon, to continue expanding our service to clients locally and their interests across the world.”
“The businesses are highly compatible,” says Clive Bate, Managing Director, Aon International. “The resources and intellectual capital, plus the global network of Aon will bring significant advantages to the clients of Ilan Beck. I am pleased with the leadership capacity that Ilan will bring to the company and am confident that he will help us continue to grow.”