ABN AMRO has signed an agreement to sell its commercial insurance operations, intended for corporate clients, to US based Aon in an undisclosed transaction.

Following the transaction, the company will shift its insurance business for small and medium-sized businesses to ABN AMRO Verzekeringen, a joint venture between ABN AMRO Bank and majority share holder (51%) Delta Lloyd Group.

C&MB Marketing & Products director Berend Dinkla said the company has teamed up with ABN AMRO Verzekeringen to offer services to small and medium-sized businesses.

"Aon has proven to be a strong, solid organisation that promises to deliver and further develop high-quality insurance products for corporate clients," Dinkla added.

The company said that the current transaction follows a strategic reorientation at ABN AMRO, claiming that it will assure quality and continuity of its services.

The company will transfer about 74 of its jobs to Aon of the total 270, while another 116 will be transferred to ABM Amro Verzekering.