AON, a leading global professional services firm, has announced the expansion of its Risk Capital capabilities to serve clients in Latin America through the acquisition of NGS Seguros, the leading risk management consultant in the Uruguayan insurance market.
NGS has operated as Aon's exclusive correspondent in Uruguay for the last 25 years, offering a wide range of solutions to ddress theneedsof clients of all sizes. Effective immediately, the company will go to market as “Aon.”
“Today’s news reinforces Aon’s investment in the South Cone and the relevance of this market for our operation in Latin America. We are pleased to welcome the NGS team to Aon. We share a long history of working together and together remain committed to helping our clients make better, more-informed decisions,” said Franco Di Lucca, head of the South Cone at Aon.
With the acquisition, Aon expands its presence in Latin America by formally establishing operations in Uruguay, a country that presents new opportunities for growth in its insurance market. Approximately 50 NGS colleagues will join Aon as part of the acquisition and NGS Partner Luis Puig will become head of Aon’s operations in Uruguay and NGS Partner Alberto Puig will serve as a senior consultant to the firm.
“Since 1871, NGS has been key to the Uruguayan insurance market, and its name has been synonymous with security and trust. We have deep experience in advising clients and, most importantly, an extremely talented team of which we are very proud. Joining Aon and leveraging the firm’s global presence will take us to the next level in terms the solutions we can offer for our clients, as well as bring great development opportunities for our teams," said Luis Puig.
Terms of the transaction, which has closed, were not disclosed.
