Sunrise Exchange News reported it weeks ago, but now it’s official – Aon Australia has bought Melbourne-based national broker Freeman McMurrick.

The deal took some time, but now that it has been formalised Aon Australia CEO Peter Harmer says the acquisition complements Aon’s growth strategies and provides opportunities to develop new business lines.

He says Freeman McMurrick has built a successful business focusing on distinct market sectors, and “developed a range of products, supported by specialist underwriting facilities, to meet the needs of mid-sized commercial businesses that are wholesaled through a broad broker network”.

Geoff Freeman, Joint MD of the 31-year-old brokerage, says the company wasn’t on the market when Aon came calling.

“When Aon approached Freeman McMurrick to discuss ways of substantially improving each other’s business, we quickly discovered the cultures of the two organisations are very similar and the business lines are complementary.” 

Mr Freeman says this move will expose the company’s clients to a greater breadth of solutions such as property valuations, business interruption analysis and improved global insurance market access.

The new business will be known as Aon Freeman McMurrick but will be managed independently of the Aon broking business. Mr Freeman will be its MD and he will also join the Aon Australia board of directors.