Aon plans to increase its Australian broker network through acquisitions and opening new offices as it targets expansion in the SME segment of the market.

“That space for us is a rich source of acquisition opportunity,” Aon Risk Solutions Pacific Region Chairman Steve Nevett told insuranceNEWS.com.au.

“Obviously, through what we have seen through Austbrokers and Steadfast, there will be consolidation and we certainly want to be part of that.”

Aon is currently represented through 34 offices in Australia and 75 in New Zealand. It recently announced plans to open branches in Geelong, Nowra, Springwood and Bunbury, and is reviewing options to extend its presence in a range of regions.

Mr Nevett’s role will be split in January when he hands over his Australian CEO responsibilities to Lambros Lambrou, who returns to the region following six years based in Chicago and London.

Both men say the leadership change gives more “firepower” to both the Australian and Pacific roles and is a reflection of the importance that the region plays for Aon globally.

Mr Lambros says the highly competitive Australian market offers opportunities for innovation and plays an important role within Aon’s global operations.

“If we can create innovations, processes or efficiencies and better value propositions for clients here in Australia, then the chances are that those value propositions are probably scalable,” he said.

Aon has invested globally in data and analytics and Mr Lambrou says more effective modelling is supporting innovations such as the Berkshire Hathaway sidecar, which has gained strong support from clients.