Indian broker says its being bought by Aon
- September 6, 2024
- Posted by: Web workers
- Category: Finance
Global Insurance Brokers Pvt. Ltd. of India said Friday it will be acquired by Aon Plc, subject to regulatory approval.
Terms of the deal were not disclosed.
Global was established in 1973 and places more than $3 billion in insurance premiums for more than 2000 clients annually.
Global said in a statement that its network of 18 offices “will augment Aon’s existing capabilities in the commercial risk, health and reinsurance markets.” It added that it has a presence in seven Indian cities where Aon does not currently operate.
The broker will do business under Aon’s brand, led by Jon Pipe, CEO of Aon India Insurance Brokers Pvt. Ltd.
The combined headcount of the two brokers tops 850 employees, with Global employing more than 350.
Global and Aon have had previous joint venture associations for more than a decade, according to the statement.
Mr. Pipe said in the statement that “the Indian insurance market is developing rapidly.”
