Global insurance and reinsurance broker Aon, has completed its acquisition of Mitsubishi Chemical Group’s (MCG) in-house insurance agency business.
The acquired business, formerly part of Dia Rix, MCG’s in-house business services provider, will now operate under Aon. Aon will provide corporate and personal lines insurance services to MCG group companies and employees in Japan.
This acquisition is intended to strengthen Aon’s Risk Capital and Human Capital capabilities within the Japanese market.
The transaction adds 100 new colleagues to Aon’s team in Japan, bringing the total number of professionals serving clients in the region to over 400. The operations will be led by Tatsuya Yamamoto, Head of Japan at Aon.
Yamamoto commented, “In today’s rapidly evolving environment for in-house agencies, MCG pioneered this project by joining forces with Aon to better address the needs of their companies and employees.
“This is a significant initiative in the industry, following the changes in the Japanese non-life insurance market which many Japanese companies are likely following closely.
“We will make every effort to ensure the integration of the in-house insurance agency is a success for MCG, Dia Rix and Aon.”
