WTW has received approval from the Insurance Regulatory and Development Authority of India on its acquisition of the remaining 51% shares in WTW India.
In addition, the firm has announced that Vivek Nath has been appointed as head of India for WTW. The transaction will see WTW add the insurance broking operation to its portfolio of businesses and operations in India.
Clare Muhiudeen, head of Asia at WTW, said: “Our business in Asia continues to grow and India is a key strategic market for us. As we drive our business growth in India, Vivek’s strong experience in leading the Southeast Asia and South Asia markets will be a key asset when he starts to focus on accelerating the growth of our businesses in India. He will be responsible for all WTW local businesses in India and bring together the communities of our talented colleagues in all WTW entities to collaborate and transform our business in the country.”
According to WTW, Nath will take over from Rohit Jain who will continue to be involved in WTW India as a director on the board of WTW India.
The firm’s decision to purchase the remaining 51% of WTW India was announced in November, following an announcement of regulatory changes in the country.
