Aon to Acquire Global Insurance Brokers to Enhance Risk Capital Offering for Clients in India
- Written by Telegraph Magazine
MUMBAI, INDIA - Media OutReach - 4 October 2023 - Aon plc (NYSE: AON), a leading global professional services firm, today announced it has signed a definitive agreement, subject to regulatory approval, to acquire Global Insurance Brokers enhancing its risk capital capability offering in India.
Founded in 1973, Global Insurance Brokers is a well-respected composite broking firm in India delivering risk management, insurance and reinsurance broking services across 17 offices.
The transaction will expand Aon's existing capabilities across the commercial risk, health and reinsurance markets and will further position Aon as a leading risk advisor in India.
Upon completion, Global Insurance Brokers will transition to Aon's brand and operating model, under the leadership of Jon Pipe, chief executive officer of Aon India Insurance Brokers Pvt Ltd., bringing together a combined team of more than 850 colleagues.
Sandeep Malik, executive chairman for Aon's Asia-Pacific region, commented: "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."
Jon 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 said: "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."
Aon and Global Insurance Brokers will continue to operate independently until the transaction is completed, which is expected in the coming months.
Read more about Aon's capabilities in India here.
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