Overview of Transaction

• On November 20, 2019, Aon (NYSE:AON) announced that it has signed a definitive agreement to acquire CoverWallet
• Launched in 2015, CoverWallet is a leading technology company reinventing the multi-billion dollar commercial insurance market for small businesses
• Powered by deep analytics, thoughtful design, and state-of-the-art technology, the Company provides an easy way to understand, buy, and manage business insurance online
• CoverWallet offers a wide variety of commercial coverages to small businesses with numerous carrier partners nationwide
• The transaction is expected to close during the first quarter of 2020, after which the CoverWallet organization will go to market as CoverWallet, an Aon company

Significance of Transaction

• CoverWallet will add large and rapidly growing direct-to-consumer and business-to-business channels to Aon’s small commercial insurance businesses, significantly expanding the total addressable market of both companies
• The acquisition provides Aon with additional access to the fast-growing, $200+ billion premium digital insurance market for small and medium-sized businesses, as well as the opportunity to leverage CoverWallet’s platform and digital, design, technology and data science capabilities already deployed at scale
• Additionally, CoverWallet provides Aon with an experienced team and deep expertise in productizing technology in financial services

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to CoverWallet and its board of directors
• This transaction highlights FT Partners’ deep domain expertise in the InsurTech space, and its successful track record generating highly favorable outcomes for high growth FinTech companies globally