Aon Risk Solutions will acquire US risk management business Stroz Friedberg, cementing its position as a global leader in cyber-risk brokerage and management.

Parent Aon says the businesses will create “a comprehensive cyber-risk management advisory group with distinct client value, including standards-based cyber assessments and industry-leading risk transfer solutions.”

Aon will integrate Stroz Friedberg’s cyber-security governance and advisory services such as penetration testing, incident response, digital forensics and due diligence capabilities.

Stroz Friedberg CEO Michael Patsalos-Fox will be CEO and Co-Chairman of Aon’s Cyber Solutions Group, and Aon EVP Enterprise Innovation and Chief Information Officer John Bruno will be Co-Chairman.

“This acquisition will allow Aon’s clients to have access to the most advanced thinking and solutions in the industry, improving their proactive posture to confront cyber risk and respond more effectively in the event of an attack,” Mr Bruno said.

Mr Patsalos-Fox says the tie-up creates the scale and platform to satisfy growing demand for comprehensive cyber solutions.

The announcement follows the release of the Aon Cyber Enterprise Solution, a property and casualty and Internet of Things product offering comprehensive, enterprise-wide coverage against cyber risk.

Stroz Friedberg has offices across the US and in London, Zurich, Dubai and Hong Kong. Its 550-plus employees will join Aon’s Cyber Solutions Group.

The acquisition remains subject to customary closing conditions. Financial terms were not disclosed.