Aon has officially announced its intention to acquire Global Insurance Brokers to bolster its risk capital capabilities in India. The transaction is pending regulatory approval.
Established in 1973, Global Insurance Brokers stands as a composite broking firm within India, offering comprehensive risk management, insurance, and reinsurance broking services through its network of 17 offices.
The proposed acquisition will broaden Aon's current capacities within the commercial risk, health, and reinsurance sectors. The broking giant also touted that it would cement the company’s position as a leading risk advisor in India.
Upon the successful conclusion of this transaction, Global Insurance Brokers will align under Aon's brand and operational framework. Jon Pipe, the chief executive officer of Aon India Insurance Brokers, will oversee this integration, uniting a collective workforce of over 850 professionals.
"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,” Pipe said.
Global Insurance Brokers founder and chairman Prabodh Thakker also commented on the upcoming acquisition, saying that it represents an opportunity to bring together the talent and capability of the 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,” Thakker said.
During the interim period until the completion of the transaction, Aon and Global Insurance Brokers will operate autonomously. The transaction is expected to conclude in the coming months.
Elsewhere for the global broker, Aon also recently unveiled FI Protect 360, a new insurance solution designed in collaboration with the London market.
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