Aon acquires Indian insurance broker
MUMBAI, INDIA — Aon, a global professional services firm, has acquired Global Insurance Brokers, an Indian composite insurance broker, for an undisclosed amount.
The deal expands Aon’s capabilities in commercial risk, health, and reinsurance in India’s rapidly growing insurance sector.
Upon completion, expected in coming months pending regulatory approval, Global Insurance Brokers will integrate into Aon’s brand and operating model under the leadership of Jon Pipe, CEO of Aon India Insurance Brokers.
“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,” said Prabodh Thakker, founder and chairman of Global Insurance Brokers.
Founded in 1973, Global Insurance Brokers has 17 offices across India, providing risk management, insurance broking, and reinsurance services. The firm will integrate into Aon’s brand and operating model, led by Jon Pipe, CEO of Aon India Insurance Brokers.
“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,” said Sandeep Malik, executive chairman for Aon’s Asia-Pacific region.
Aon has 50,000 colleagues in 120 countries. In India, it has expanded through acquisitions and organic growth since starting operations in 2017 as Anviti Insurance Brokers.
Until the transaction completes, Aon and Global Insurance Brokers will continue operating independently. Regulatory approval is anticipated in the coming months.
