Arthur J. Gallagher & Co has purchased the remaining shares of Edelweiss Insurance Brokers Limited from Edelweiss Financial Services Limited, following a minority investment in 2019.
The deal is subject to approval by the Insurance Regulatory and Development Authority of India. Terms of the transaction were not disclosed.
Headquartered in Mumbai, with branches in Delhi, Kolkata and Bangalore, Edelweiss Gallagher Insurance Brokers Limited is an insurance/reinsurance broker offering general insurance solutions to clients across India within four corporate, affinity & association, reinsurance & global, and digital solutions.
Key industry niches include cement, retail, pharmaceuticals & life sciences, jewellery, financial services, property, construction and infrastructure.
“Our partnership with Edelweiss has delivered strong results and this new step provides an exciting opportunity to establish a broader Gallagher footprint in India,” said J. Patrick Gallagher, Jr., Chairman, President and CEO.
“We are very pleased to welcome Edelweiss Gallagher Insurance Brokers Limited as a fully-fledged part of Gallagher and to increase our reach in this important market.”
