Aon Aminim, a unit of Aon International, headquartered in Tel Aviv, Israel, announced that it has acquired the business of Fredy & Ilan Beck Insurance Brokers in Haifa, Israel, subject to approval of the relevant authorities.
“The businesses of Aon Aminim, Tel Aviv, and Fredy and Ilan Beck will be merged to become Aon Israel Insurance Brokerage,” said the announcement. “The new organization will be one of the largest retail insurance brokerage companies in the country. Terms of the transaction were not disclosed.”
The bulletin explained that “Ilan Beck will become a shareholder of the combined company and the Chief Executive of Aon’s insurance brokerage business in Israel. Beck works with the founder of Aon Aminim, Ephraim Kriel, in bringing the two teams together. Kriel will also chair a country board established to represent all of Aon’s interests in Israel.”
Kriel commented: “We had been considering for a while giving a new dynamism to continue to drive our business forward and I am delighted that my initial discussions with Ilan Beck have proved so successful and resulted in this coming together. I am confident this acquisition will place us at the forefront of the insurance broking community in Israel.”
Ilan Beck stated: “My father established the foundations of our business and we have successfully grown from our base in Haifa to not only serve clients there but also in Tel Aviv, throughout Israel and internationally. We will now be able to adopt a pan-Israel service level to all our mutual clients and I am looking forward to working with Ephraim and other colleagues of Aon, to continue expanding our service to clients locally and their interests across the world.”
Clive Bate, Managing Director, Aon International, noted: “The businesses are highly compatible. The resources and intellectual capital, plus the global network of Aon will bring significant advantages to the clients of Ilan Beck. I am pleased with the leadership capacity that Ilan will bring to the company and am confident that he will help us continue to grow.”