Aon Risk Solutions, the global risk management business of Aon plc, has completed its acquisition of Stroz Friedberg Inc., a global risk management firm based in New York City. Financial terms were not disclosed.
This move comes as the complexity and severity of cyber risk continues to expand, impacting organizations across all industries, according to an October press release issued by Aon announcing the agreement. The combination of Aon and Stroz Friedberg will extend Aon’s cyber risk brokerage business and create a comprehensive Cyber Risk Management Advisory Group that offers standards-based cyber assessments and risk transfer solutions for clients, the release states.
Stroz Friedberg’s more than 550 colleagues are joining Aon’s newly created Cyber Solutions Group following the acquisition. Michael Patsalos-Fox, Stroz Friedberg’s CEO, will become the CEO and co-chair of Aon’s Cyber Solutions Group going forward. John Bruno, Aon’s executive vice president of enterprise innovation and chief information officer, will join Patsalos-Fox as co-chair of the new group.
Source: Aon plc