Aon announces acquisition of specialist independent trade credit brokerage
Aon South Africa has acquired Niche International Brokers (Pty) Ltd, an independent specialist trade credit brokerage with operations in Johannesburg, Cape Town and Durban...
The deal will see a transfer of Niche’s client accounts and team of trade credit specialists to Aon, effective 1 March 2018. Niche’s current owner, Ken Jedlinski, will also be joining Aon, providing continuity for clients and colleagues alike.
Aon said the acquisition supports its ambitions to complement its local capabilities, specifically targeting growth in the corporate, mid-market and specialist sectors. The newly enlarged trade credit team further entrenches Aon’s position as a leading specialist trade credit brokerage in sub-Saharan Africa, backed by a team of professional brokers with experience in both local and multinational accounts.
Terence Williams, CEO of Aon South Africa said: “I’m delighted that the Niche International Brokers team is joining Aon, enabling us to build capacity and scale in our existing trade credit offering. The esteem in which Niche is held, both by clients and the market, is a testimony to its ethos of putting clients at the heart of its business and aligns perfectly with Aon’s approach in investing in value creation for our clients. I’m looking forward to bringing our combined breadth and depth of experience, strong carrier relationships, and world-class capabilities together to empower results for our clients."
Stuart Lawson, CEO of Aon Credit Solutions EMEA adds: “The acquisition supports our ambitions to strengthen and expand our local capabilities, specifically focusing on corporate and global client segments. As the world’s leading specialist credit solutions broker, Aon offers unparalleled technical knowledge and market leverage for businesses looking to protect their balance sheet from non-payment exposures and optimise working capital in an increasingly challenging trade environment.”
Ken Jedlinksi, MD and Founder of Niche International Brokers said: “This acquisition provides a wealth of opportunities for our clients and colleagues. Our clients will benefit from access to Aon’s expansive global network, deep industry insights and analytics as well as the broad offering Aon has in risk and short-term insurance solutions as well as employee benefits. As for our colleagues, their experience and skills will be of great value in the new environment and I have no doubt that they will have an incredible opportunity to develop their careers within the local and global environment that Aon offers, transferring and gaining skills and specialist knowledge in the process.”
The acquisition of Niche, a wholly South African business, as well as the extension of Aon’s Broad Based Black Economic Empowerment (BBBEE) partnership in 2016 for a further seven-year period, further solidifies Aon’s continued investment in the country and its support of the transformation of the South African economy.