EDME Insurance Brokers is planning overseas offices and further domestic expansion following its combination with UIB Insurance Brokers (India) Pvt. Ltd., as the broker targets higher business volumes and closer links to regional and international markets.
EDME Insurance Brokers, formerly Aditya Birla Insurance Brokers Ltd., aims to increase its business to about ₹1,600 crore over the next five years, from around ₹850 crore after the acquisition of UIB India. Chief executive officer Sanjay Radhakrishnan said the broker expects to add locations in regional and global insurance centres that serve Asian and multinational clients. “We would also like to spread our wings outside India, namely to Dubai, Singapore, and London as well. We feel that, in the next one year or so, we will set up offices in both Singapore and Dubai. So, London might come later,” Radhakrishnan said, as reported by Business Standard. The additional offices would give the India-based intermediary more direct access to insurance and reinsurance markets in Asia and London for corporate and specialty risks placed on behalf of Indian and multinational clients.
Radhakrishnan said the UIB India transaction has taken EDME’s business to about ₹850 crore and, according to him, made the broker the second-largest in India after Marsh by business volume. To support further expansion, EDME has identified a group of priority industries. “We have identified around 14 to 18 industries that we want to focus on. For example, IT and BFSI, construction, infrastructure, and power. We are also looking at sports, media, and entertainment. Additionally, we are looking at mergers and acquisitions,” Radhakrishnan said. The focus on mergers and acquisitions aligns the broker with increasing demand in Asia-Pacific for transactional risk solutions, including warranty and indemnity and other covers associated with corporate and private equity deals. With the addition of new segments, Radhakrishnan said: “We want to double the business every three to four years.”
EDME does not expect its workforce to increase at the same pace as its revenue targets. Instead, the firm plans to use technology to manage placements and service delivery. “We see our headcount not growing as significantly as the numbers because we are using a lot of technology to back up our growth plans. We should be sub 1,000 people by the end of the next 3 to 4 years,” Radhakrishnan said. For insurers and reinsurers working with the broker, the approach indicates an operating model that relies on digital tools for distribution, analytics, and client servicing rather than large increases in staff.
The combination of EDME and UIB India follows changes in UIB’s shareholding structure in the country. In August 2025, UIB International Ltd., the holding company for UIB Group’s global operations, completed the sale of its minority stake in UIB Insurance Brokers (India) Pvt. Ltd. to Edme Services Private Ltd., an entity affiliated with Indian private equity firm Samara Capital. The deal was carried out in partnership with UIB India’s majority stakeholders, Indorama SPL Group and Lucas & Mayo Group. Edme Services has said it will retain UIB India’s existing management team to maintain continuity and support its plan to expand insurance distribution across India.
In a LinkedIn announcement, Edme stated: “Edme Insurance Brokers Ltd. and UIB Insurance Brokers (India) Private Limited announce strategic merger to create a leading force in insurance broking! Edme Insurance Brokers Ltd. and UIB Insurance Brokers (India) Private Limited have announced a merger to strengthen their presence in the Indian insurance market, subject to requisite regulatory approvals.” According to the announcement, the merged entity will operate as Edme Insurance Brokers Ltd., combining EDME’s sector-focused innovation and digital capabilities with UIB India’s reinsurance expertise and long-standing client relationships. The merger is framed as supporting wholesale, reinsurance, and retail broking and “bespoke, technology-enabled risk solutions,” aligned with the Insurance Regulatory and Development Authority of India’s (IRDAI) “Insurance for All by 2047” vision.
Radhakrishnan said the integration is intended to bring together different capabilities on a single platform. “The coming together of EDME and UIB brings complementary strengths under a unified operating framework - combining scale, industry-aligned expertise, global market access, and technology-led advisory,” he said.
Radhakrishnan added that the integration “goes beyond consolidation,” with an emphasis on sector-specific risk and insurance solutions across corporate insurance, reinsurance, and specialised risk segments. Enhanced access to international insurance and reinsurance markets and coordinated cross-border capabilities are expected to support both Indian and multinational clients placing risks into Asia, the Middle East, and London. For insurance professionals in the region, the transaction adds another India-based intermediary seeking to use mergers, sector focus, and regional offices to link domestic risks with international capacity.
