The brokerage giant acquired the global firm through its risk management business, Aon Risk Solutions. Financial details of the transaction were not disclosed.
The acquisition is seen to position Aon as the global leader in cyber risk management as Stroz Friedberg’s cyber security governance and advisory services, which include penetration testing, incident response, digital forensics, eDiscovery and due diligence capabilities, will integrate into the Aon business.
The transaction also combines the companies’ teams on cyber risk transfer, mitigation, advisory, and response, with more than 550 Stroz Friedberg employees expected to join Aon’s Cyber Solutions Group.
Stroz Friedberg chief executive Michael Patsalos-Fox will become the CEO and co-chair of the new group. John Bruno, Aon’s executive vice president of enterprise innovation and chief information officer, will join as co-chair.
“This acquisition will allow Aon’s clients to have access to the most advanced thinking and solutions in the industry; improving their proactive posture to confront cyber risk and respond more effectively in the event of an attack,” Bruno said.
“Aon and Stroz Friedberg have highly complementary end-to-end cyber risk management solutions and services,” he added. “This bold step greatly expands Aon’s cyber solutions and differentiates us from our competition while accelerating innovation on behalf of our clients.”
Based in New York, Stroz Friedberg also has offices in Hong Kong.
Foreign intelligence service responsible for Aussie Govt hack
APRA: Almost half of insurers suffer cyber attack
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.