Acquisition of the insurance broking business of AON (Isle of Man)

by | 18/04/2023 | Company Updates

A copy of the AON logo sat on a white backgound

The combination of Aon’s insurance broking business with the MAC Group will result in a market leading local broker of a scale that will be of long-term benefit to all clients.

The sale of the business to MAC Group was completed on 31 January 2023. All former staff working for Aon have moved to the MAC Group, which will ensure that the existing levels and continuity of service will be maintained.

Commenting on the sale Aon said:

“The transaction will give the combined businesses a scale and opportunity for synergy that will enable it to better advocate on behalf of clients and ultimately provide incremental customer value. We are confident that the combination of the two businesses will provide the Isle of Man market with an unrivalled commercial insurance broker.”

The MAC Group was established in 2004 by Jon McGowan as a management buy-out from Aon and, with Jon having originally worked for Aon since 1991, the connection between the two businesses stretches back over 30 years.

MAC has recently employed Phil Tompsett, former Head of Broking at Aon as MAC’s Head of Broking providing additional expertise and continuity for clients and staff.

MAC’s success is based on a clear focus on client outcomes supported by outstanding long-term professional service. Through this ethos, MAC has built a reputation for delivering a trusted, reliable and creative service founded on the highest level of integrity and knowledge.

MAC are based in the heart of the island’s financial sector at 65 Athol Street in Douglas and with the planned addition of the Aon team, employ over 40 people across the Group.

Commenting on the acquisition, Jon McGowan, MAC Group CEO, said:

“At MAC, we are constantly assessing strategic opportunities to grow our successful insurance and financial services businesses.

“The acquisition of Aon’s business in the Isle of Man is a significant development both for MAC and our clients. I am delighted to welcome the former Aon clients and staff into the MAC Family.”