Aon has entered into an agreement with Le Foyer and Kredietbank to transfer the business of Gecalux SA Luxembourg, Gecalux Switzerland AG and GecasuisseAG. The Gecalux business, which represents in excess of 40 captive clients and a number of consulting clients, will be managed by Aon's specialist captive management and consulting arm, Aon Captive Services Group (ACSG).
Stephen Cross, CEO of Aon Captive Services Group, said: "This is animportant step for Aon's continuing development as a center of excellence inthe captive management and risk financing arena. Our existing Luxembourgoperation will be combined with the Gecalux business and will represent thefirst Aon operation to deliver captive management, risk management, and riskfinance consulting services from one location.
"The deal will significantly expand our rate of growth and better enable usto service clients throughout continental Europe," Mr Cross added.