Aon has re-entered the insurance broking market in India through its acquisition of a 49% stake in Anviti Insurance Brokers.
In 2015, Aon announced that it would exit the Indian market, citing “regulatory changes”. Its former joint venture partner, Global Insurance Services, completed the buyout of Aon’s former shares in 2017.
According to a statement by Aon, Anviti will transition into the Aon brand once it obtains the necessary regulatory approvals. The Anviti team, led by CEO Jonathan Pipe, will remain as the core of the joint venture and its growth plans in India, backed by Aon’s global resources, technology, and operations infrastructure.
Pipe was with Aon for 15 years before being appointed CEO of Anviti in 2019.
“I am excited to transition Anviti into the Aon world as we continue to help Indian businesses prepare for the new better,” said Pipe. “We have strong capabilities in India and have established trusted advisory relationships since we started operations in 2017. I look forward to building upon this platform and accelerating results for our clients, colleagues and communities.”
“I welcome the Anviti team to the Aon family,” said Sandeep Malik (pictured), CEO, Asia-Pacific, Aon. “We are excited about the innovation that Aon can bring to our clients in India, create exciting new opportunities for our colleagues and realise the full potential of our firm in a dynamic market.”