# Aon announces agreement to acquire risk management firm, creating a comprehensive cyber risk management advisory group Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-10-12 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Aon Acquires Stroz Friedberg to Bolster Cyber Risk Meta Description: Aon announces acquisition of Stroz Friedberg, enhancing cyber risk management services and creating a comprehensive Cyber Risk Management Advisory Group. URL: https://financedigest.com/aon-announces-agreement-to-acquire-risk-management-firm-creating-a-comprehensive-cyber-risk-management-advisory-grouphtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/img9127-1207-1736844450700-compressed.jpg) Stroz Friedberg bolsters integrated approach to cyber risk, expands world-class leadership team As the complexity and severity of [cyber](http://www.aon.com/cyber) risk continues to expand, threatening organizations across all industries, [Aon Risk Solutions](http://www.aon.com/risk-services/), the global [risk management](http://www.aon.com/risk-services/) business of [Aon plc](http://www.aon.com/default.jsp) (NYSE:AON), today announced it has entered into an agreement to acquire all of [Stroz Friedberg Inc.,](https://www.strozfriedberg.com/) a leading global risk management firm based in New York City, with offices across the U.S. and in London, Zurich, Dubai and Hong Kong. [Financial terms were not disclosed and the acquisition is subject to customary closing](https://www.financedigest.com/fast-track-financial-close.html "FAST-TRACK FINANCIAL CLOSE") conditions. The combination of Aon and Stroz Friedberg will extend Aon’s industry-leading position in cyber [risk brokerage and creates a comprehensive Cyber Risk Management](https://www.financedigest.com/strategies-banks-use-to-manage-liquidity-risk.html "Strategies Banks Use to Manage Liquidity Risk") Advisory Group with distinct client value, including standards-based cyber assessments and industry-leading risk transfer solutions. Integrating Stroz Friedberg’s cyber security governance and advisory services, including its penetration testing, incident response, digital forensics, eDiscovery and due diligence capabilities, will position Aon as the global leader in cyber [risk management](https://www.financedigest.com/improving-risk-management-in-the-insurance-industry.html "Improving risk management in the insurance industry"). The transaction brings together two of the world’s most highly skilled and accomplished teams focused on [cyber risk](https://www.financedigest.com/minimising-supply-chain-cyber-risks-by-asking-the-right-questions.html "MINIMISING SUPPLY CHAIN CYBER RISKS BY ASKING THE RIGHT QUESTIONS") transfer, mitigation, advisory, and response. Stroz Friedberg’s more than 550 employees will join Aon’s [Cyber Solutions](https://www.financedigest.com/industrial-cyber-security-solutions-and-services-strong-increase-in-user-base-pans-out-for-north-america-to-lead-market.html "Industrial Cyber Security Solutions and Services – Strong Increase in User Base Pans Out for North America to Lead Market") Group. Michael Patsalos-Fox, Stroz Friedberg’s CEO, will [become the CEO and co-chair of Aon’s Cyber Solutions](https://www.financedigest.com/becoming-more-than-a-bank-adding-value-through-financial-solutions-as-a-service.html "Becoming more than a bank: adding value through financial solutions as-a-service") Group. John Bruno, Aon’s executive vice president of enterprise innovation and [chief information officer](https://www.financedigest.com/the-new-role-of-the-cfo-the-de-facto-chief-growth-officer.html "The New Role of the CFO: The De Facto Chief Growth Officer"), will join Patsalos-Fox as co-chair of this new group. Technology-enabled businesses in all industries and the instability from [cyber threats](https://www.financedigest.com/is-the-next-big-cyber-threat-mis-placed-security-spending.html "Is the next big cyber threat mis-placed security spending?") are increasing. 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](https://www.financedigest.com/how-fortyhill-financial-solutions-recognised-mailock-as-an-industry-standard.html "How Fortyhill Financial Solutions Recognised Mailock as an Industry Standard"). Aon and Stroz Friedberg have highly complementary end-to-end cyber [risk management](https://www.financedigest.com/early-detection-of-mismatched-trades-is-key-to-managing-risk-and-maximizing-profits-on-the-pl-desk.html "EARLY DETECTION OF MISMATCHED TRADES IS KEY TO MANAGING RISK AND MAXIMIZING PROFITS ON THE P&L DESK") solutions and services. This bold step greatly [expands Aon’s cyber solutions](https://www.financedigest.com/icon-solutions-expands-services-strategy-to-help-banks-accelerate-digital-transformation.html "Icon Solutions Expands Services Strategy to Help Banks Accelerate Digital Transformation") and differentiates us from our competition while accelerating innovation on behalf of our clients. Both Stroz Friedberg and Aon know that businesses face greater systemic [risk from cyber threats](https://www.financedigest.com/using-threat-intelligence-to-minimise-cyber-insurance-risks.html "Using Threat Intelligence to Minimise Cyber Insurance Risks") than ever before, and both understand that companies need an integrated approach to mitigate this risk and achieve resilience,” Patsalos-Fox said. Stroz Friedberg has always been focused on helping its clients [navigate today’s complex risk](https://www.financedigest.com/navigating-risk-in-the-cryptoverse.html "Navigating Risk in the Cryptoverse") landscape. By joining forces with Aon we will have the scale and platform to satisfy the [growing market need for a comprehensive solution.”](https://www.financedigest.com/asset-management-it-solution-market-asset-management-grow-crucial-for-various-organizations-to-evaluate-entire-business.html "Asset Management IT Solution Market – Asset Management Grow Crucial for Various Organizations to Evaluate Entire Business") The Stroz Friedberg announcement, which follows the recent release of Aon Cyber Enterprise Solution™, a property/casualty and Internet of Things [insurance solution that offers comprehensive enterprise-wide coverage against cyber risk](https://www.financedigest.com/automated-cyber-risk-quantification-saving-the-insurance-industry.html "Automated Cyber Risk Quantification: Saving the Insurance Industry"), reinforces Aon’s leadership in this sector and enables us to offer highly differentiated solutions to organizations around the world. --- This blog is powered by Superblog. 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