Aon has announced that it has fully acquired Aon India Insurance Brokers, purchasing the remaining share from Catamaran Ventures.
Last year, Aon acquired a 49% stake in Anviti Insurance Brokers from Catamaran, which founded the Indian composite broking firm in 2016. The business was rebranded to Aon India Insurance Brokers in June.
Aon India Insurance Brokers has over 300 employees across nine locations in India. It offers a range of commercial risk, reinsurance, retirement, health and data and analytics services.
“We are delighted to reach this milestone following our initial investment last year,” said Sandeep Malik (pictured above), executive chairman for Asia-Pacific at Aon. “This step reaffirms Aon's commitment to the Indian market and further enables us to create new sources of value for our clients, accelerate innovation and deliver a unique colleague experience. We are happy to have worked with Catamaran, which built the foundation to deliver immense client value with utmost integrity.”
"Catamaran's objective has always been to bring world-class business practices to India by partnering with global companies and to create value and jobs in India,” said M D Raganath, president of Catamaran Ventures. “In a short period of time, Aon India Insurance Brokers has established itself as a leading, well-respected corporate insurance broking firm in India. We would like to thank Aon for the successful collaboration over the years and wish them a rewarding journey ahead.”