MAC Commercial (part of the MAC Group) has announced the acquisition of the insurance broking clients of Aon, one of the largest and longest established insurance broking business on the island.

The sale of the business – for an undisclosed sum – to MAC Group was completed on January 31.

No redundancies have resulted from the deal as all former staff working for Aon have moved to the MAC Group, which takes the head count there to more than 40.

A spokesperson for Aon said: ‘The transaction will give the combined businesses a scale 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 Mr McGowan 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.

Jon McGowan, MAC Group chief executive officer, 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.’