AON Baltic acquires one of the largest broking firm in the Baltic region

AON Baltic, a subsidiary of global risk and insurance brokerage company AON, has announced it has completed the acquisition of insurance broker BALTO LINK.  Financial details of the transaction have not been disclosed.

BALTO LINK is one of the largest broking firm in the Baltic region, specialising in large corporate business and online sales. Both companies are present in Estonia, Latvia and Lithuania.

"Joining forces with BALTO LINK will create value and empower results for clients of both firms. BALTO LINK's technological expertise and quality people will complement AON Baltic's existing strengths in risk management, mitigation and transfer. Clients of BALTO LINK will benefit from the breadth and depth of AON's global presence and expertise across risk, retirement and health. We plan to continue to invest in people, technology and data analytics, all of which will enable us to serve our clients more effectively. We also plan grow our retail business across all the Baltic States, expanding the online business in Latvia and Estonia", said Zilvinas PETRAUSKAS, General Manager of AON Baltic.

"Joining AON Baltic and becoming part of a global firm will enable us to provide enhanced solutions to our clients. We believe that strong business synergies between the two firms will bring opportunities and benefits to colleagues and clients alike", said Robertas SALTIS, Managing Director Baltics of BALTO LINK.

According to 4-traders.com, after the merger of the companies, AON Baltic will have almost 300 employees across the Baltic states. Zilvinas PETRAUSKAS will continue work in his position, while Robertas SALTIS will become the executive director in the company.

BALTO LINK was founded in 2000 by two former J&H Marsh & McLennan executives in Lithuania: Robertas SALTIS and Jolita PALEKAITE.

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