Insurance giant Aon plc (NYSE:AON) is set to acquire Global Insurance Brokers, a strategic move aimed at bolstering its risk capital services and expanding its footprint in India's burgeoning insurance market. The deal, announced on Thursday, is pending regulatory approval.
Once finalized, this acquisition will enable Aon to extend its reach in commercial risk, health, and reinsurance sectors across India. As part of the consolidation, Global Insurance Brokers' 17 offices will transition to Aon's brand. The newly integrated entity will be led by Jon Pipe, the CEO of Aon India Insurance Brokers Pvt Ltd.
The merger brings together over 850 colleagues from both companies, enhancing the capacity to provide comprehensive solutions for Indian businesses. Both Sandeep Malik, Aon's Asia-Pacific region executive chairman, and Prabodh Thakker, founder of Global Insurance Brokers, have expressed optimism about the potential of the Indian market.
This acquisition follows Aon's strategic move last year when it increased its stake in Anviti Insurance Brokers from Catamaran Ventures in 2021. The latest deal with Global Insurance Brokers underscores Aon's commitment to investing in India's growing insurance sector.
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