Aon Risk Solutions, the global risk management business of Aon plc, announced the acquisition of Graña y Asociados, a Lima, Peru-based leader in risk and insurance solutions for individuals and businesses. Financial terms were not disclosed.

Aon said: “Graña y Asociados specializes in providing comprehensive advice and professional assistance for the prevention, reduction and management of the global risks facing individuals and businesses today, locally, regionally and globally. Graña y Asociados has 60 team members based in Lima.

Aon Risk Solutions CEO Michael O’Connor commented: “Latin America is one of the fastest-growing regions and a key area of focus for Aon and our clients. Graña is a market leader in Peru, with deep expertise in the construction and mining industries. Their local knowledge and expertise, combined with Aon’s global strength, will empower results for clients in Peru.”

Fernando Pereira, CEO of Aon Risk Solutions in Latin America, described the acquisition as “an exciting day for Aon, Graña and clients in Peru.” He said the “combination of Aon’s global capabilities, access to data and distinctive market relationships and Graña’s talent and understanding of the Peruvian market creates a risk and insurance partnership unlike any in this geography.”

Graña y Asociados Chairman Santiago added: “Over the past 19 years we built a great organization focused on serving clients with passion and integrity. Today we are proud to be able to partner with Aon, and take the next step in our journey to bring the best global capabilities, data and market access to clients in Peru.”