Aon Plc acquires Global Insurance Brokers
MUMBAI, India, Oct. 6, 2023 /PRNewswire/ — Global Insurance Brokers (Global), one of the leading providers of risk management, insurance, and reinsurance broking services in the Indian subcontinent announces its acquisition by Aon plc (NYSE: AON), an internationally renowned professional services firm. The arrangement is subject to regulatory approval. Aon and Global Insurance Brokers will continue to operate independently until then.
With a strong legacy, Global provides services to over 2000 companies annually across industries through its network of 18 offices. Keeping up with time, Global has invested heavily in leading-edge technology and has developed a proprietary technology-led platform that distinguishes it. 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 Mr. Jon Pipe, Chief Executive Officer of Aon India Insurance Brokers Pvt Ltd. The acquisition brings together a formidable team of over 850 talented people with domain expertise. Senior Management Team of Aon and Global will work together for a smooth transition.
Commenting on the development, Mr. 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. 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.”
Mr. Jon Pipe, Chief Executive Officer, Aon India Insurance Brokers added, “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.”
Notably, Global has a presence in seven Indian cities where Aon does not currently operate, presenting the company with a unique opportunity to expand its brand using its expertise and support. Global and Aon have had a track record of successful joint venture association for more than a decade and the acquisition will further unlock the potential of both organisations, contributing significantly to the growth of the overall Indian insurance industry.
About Global Insurance Brokers
Established in 1973, Global Insurance Brokers Pvt Ltd is a licensed composite broker by IRDAI, providing leading risk management, insurance, and reinsurance broking services in India. Its services cater to corporates and communities, offering risk consulting, insurance placement, claims management, and more. Operating independently, the company delivers flexible and state-of-the-art solutions that have a progressive impact on clients’ businesses. Specialising in aviation, sports, counterterrorism, and crisis management, Global is also a leader in employee benefits, liability, property, construction, and energy sectors. With over USD 3 billion in insurance premiums placed and served globally 2000+ clients annually, its 350+ skilled employees across 18 offices ensure customised solutions that meet clients’ needs.
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