Global professional services group Aon agrees deal to acquire Liverpool insurance broker Griffiths & Armour, which was founded in the city 90 years ago. Tony McDonough reports

No 12 Princes Dock at Liverpool Waters is home to Griffiths & Armour

Liverpool insurance broker Griffiths & Armour is set to be acquired by global professional services firm Aon.

Aon announced the deal on Friday afternoon. The value of the agreement was not disclosed but the most recent annual accounts posted on Companies House show Griffiths & Armour having net assets of £26.7m.

Closing of the transaction is subject to conditions, including regulatory approvals, and is expected to complete in the first quarter of 2025. Aon and Griffiths & Armour will continue to operate independently until the closing date.

In 1934 Kenneth Griffiths and George Armour left their jobs at the Royal Insurance Company to found Griffiths & Armour in Liverpool. They recognised a gap in the market for non-marine broking.

Today, its headquarters are in Princes Dock in Liverpool Waters and the firm also has offices in Manchester, Dublin and London. The business employs around 200 people and specialises in professional indemnity insurance and general insurance broking.

Headquartered in London, Aon employs around 50,000 across 120 countries and generates annual revenues of more than £10bn. It says it is “committed” to Griffiths & Armour’s teams in Liverpool and the other offices.

“As we continue to go further, faster to help our clients navigate growing uncertainty and volatility, we are looking forward to welcoming Griffiths & Armour to Aon,” said Greg Case, chief executive of Aon.

“Our complementary capabilities and cultures will create unmatched client and colleague experiences across the UK and Ireland and contribute to our global 3×3 Plan to accelerate our Aon United strategy.”

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Carl Evans, chief executive of professional risks for Griffiths & Armour, added: “Becoming part of the Aon family is the result of a meticulous search for a trusted partner with whom we can work, to ensure the future success of Griffiths & Armour. 

“This proposition is founded on a culture that has been created and refined over the last 90 years, of which we are immensely proud.”