Global insurance broker Aon Corp. has agreed to acquire Carpenter Moore Insurance Services, Inc., a provider of executive liability risk management services and a wholly-owned subsidiary of The NASDAQ OMX Group, Inc.
Financial terms of the acquisition were not disclosed.
Under the terms of the agreement, Chicago-based Aon and New York-based NASDAQ said they will enter into a five-year exclusive marketing agreement in the area of liability insurance. The two organizations also will collaborate on the annual Carpenter Moore Benchmarking Survey.
Carpenter Moore was formed through the merger of Carpenter Moore and NASDAQ Insurance Agency in 2005. It serves technology, pharmaceuticals, healthcare, durable goods, transportation, energy and financial services industries.
A.M. Best deemed Aon the number one broker based on brokerage revenues in 2007 and 2008.
Earlier this month, Carpenter Moore reported it had sold its Western region book of 60 directros and officers liability insurance clients to the California insurance agency, Woodruff & Sawyer.