Aon announced a definitive agreement to acquire the in-house insurance agency of Mitsubishi Chemical Group (MCG). The move expands Aon’s risk and health offerings in Japan.
The insurance agency operates under Dia Rix, an internal business services provider for MCG. Aon will take over the agency, which provides corporate and personal insurance for MCG companies and employees in Japan.
This divestiture enables MCG to focus on its main business while utilizing Aon’s global risk management expertise to enhance governance.
Once the transaction is finalized, the team will join Aon, adopting its brand and operational structure. Tatsuya Yamamoto, head of Aon Japan, will lead the integrated team of over 400 employees.
Anne Corona, Aon’s Asia Pacific CEO, stated: “This acquisition reinforces our investment in Japan as an important market for Aon. The existing synergies we share with Dia Rix in terms of capability and culture will allow us to better serve MCG as well as strengthen broader capability and development opportunities for colleagues at the combined firm.”
Changes in Japan’s non-life insurance market are driving global companies like MCG to focus on core operations by divesting in-house insurance agencies
Tatsuya Yamamoto, head of Aon Japan
“Aon’s expertise supports this transition by offering advanced global risk management solutions. We are well-positioned to build on this momentum and deliver tailored solutions to clients across Japan,” Tatsuya Yamamoto added.
Both firms will operate separately until the deal closes, expected in early 2025.
