Global insurance and reinsurance broker Aon is looking to enhance its risk capital capability offering in India with the acquisition of Global Insurance Brokers, a composite re/insurance brokerage offering services across 17 offices.
Once the deal completes, which remains subject to regulatory approval, the Indian broker will transition to Aon’s brand and operating model, and will be led by Jon Pipe, Chief Executive Officer (CEO) of Aon India Insurance Brokers Pvt Ltd., bringing together a team of more than 850 colleagues.
Aon expects the transaction to expand its existing capabilities across commercial risk, health, and reinsurance markets, and further position the firm as a leading risk advisor in the country.
The transaction is expected to close in the coming months, and until then, Aon and Global Insurance Brokers will continue to work independently.
Sandeep Malik, Executive Chairman for Aon’s Asia-Pacific region, commented on the deal: “The Indian insurance market is developing rapidly, and this acquisition reflects our commitment to the Indian market as well as to helping our clients navigate volatility and make better decisions in a fast-changing environment.”
Pipe added: “Our clients are facing increasingly complex risks and evolving regulatory requirements. The combined capabilities of Global Insurance Brokers and Aon will allow us to better serve our clients across India in new geographies and industries.”
Prabodh Thakker, Founder and Chairman of Global Insurance Brokers, noted: “We are excited about the opportunity to bring together the talent and capability of our two firms.
“Global Insurance Brokers shares common values with Aon and by joining together we will be better placed to drive innovation, develop talent and deliver enhanced solutions to help companies in India grow and protect their businesses.”
