Aon buys Uruguay’s NGS Seguros
Global re/insurance broker Aon has expanded its risk capital capabilities in Latin America through the acquisition of a risk management consultant, NGS Seguros, 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 for clients of all sizes. Following the acquisition, NGS will go to market as Aon.
With the acquisition, Aon has expanded its presence in Latin America by formally establishing operations in Uruguay, a country it believes presents new opportunities for growth in its insurance market. Approximately 50 NGS colleagues will join Aon as part of the acquisition. 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.
Franco Di Lucca, head of the South Cone at Aon, said: “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 we remain committed to helping our clients make better, more-informed decisions.”
Luis Puig (pictured) commented: “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.”
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