Global Insurance Brokers (Global), one of the premier providers of risk management, insurance, and reinsurance broking services in India, has officially announced its acquisition by Aon plc.
The transaction is pending regulatory approval, and until then, Aon and Global Insurance Brokers will continue to operate independently.
Boasting a robust legacy, Global caters to over 2000 companies annually across various industries, leveraging its extensive network of 18 offices. Embracing technological advancements, Global has heavily invested in cutting-edge technology and crafted a proprietary technology-driven platform that sets it apart. The acquisition is poised to enhance Aon’s existing capabilities in the commercial risk, health, and reinsurance markets.
Post-acquisition, Global will function under Aon’s brand and business model, under the leadership of Jon Pipe, Chief Executive Officer of Aon India Insurance Brokers Pvt Ltd. This strategic move brings together a formidable team of over 850 skilled individuals with domain expertise. The Senior Management Teams of both Aon and Global are collaborating to ensure a seamless transition.
Commenting on the development, Prabodh Thakker, Chairman, Global Insurance Brokers said, “Having operated in the Indian insurance broking space for nearly five decades, Global not only comprehends the industry well but has a deep understanding of the nuances of the Indian markets.”
He continued: “Our aim is to combine synergy and expertise of the two organisations to enhance delivery and value to our existing customers and prospects. This acquisition will empower the Indian market to access best practices followed internationally and contribute to the overall growth of the Indian insurance sector.”
Global holds a footprint in seven Indian cities where Aon currently lacks a presence, providing the company with a distinctive chance to extend its brand utilising its expertise and backing. The longstanding history of a fruitful joint venture association between Global and Aon, spanning over a decade, indicates a successful collaboration. The acquisition is poised to amplify the potential of both organisations, making a substantial contribution to the overall growth of the Indian insurance industry.
“The Indian insurance market is developing rapidly, and the changing landscape means 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,” said Pipe.
He added: “This acquisition will reinforce our commitment to helping our clients navigate volatility and make better decisions in today’s environment.”
Author: Joanna England
Original source: PR Newswire
