NEW DELHI: Global Insurance Brokers (Global), a provider of risk management, insurance, and reinsurance broking services in the Indian subcontinent has announced its acquisition by professional services firm Aon plc. The arrangement is subject to regulatory approval. Aon and Global Insurance Brokers will continue to operate independently until then.
The acquisition will augment Aon's existing capabilities in the commercial risk, health, and reinsurance markets. Global will operate under Aon's brand and business model, led by Jon Pipe, CEO of Aon India Insurance Brokers. Senior Management Team of Aon and Global will work together for a smooth transition.
“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,” said Prabodh Thakker, chairman at Global Insurance Brokers.
“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. This acquisition will reinforce our commitment to helping our clients navigate volatility and make better decisions in today’s environment,” said Pipe.
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