Aon acquires Global Insurance Brokers
Aon, an international professional services firm, recently announced the acquisition of Global Insurance Brokers, a provider of risk management, insurance and reinsurance broking services available in India. Global Insurance Brokers has a presence in seven Indian cities where Aon currently does not operate, presenting a unique opportunity for Aon to expand its reach using Global’s expertise and support. Jon Pipe, chief executive officer of Aon India Insurance Brokers, will lead Global moving forward, which will operate under the Aon brand and business model.
Pipe said in a news release statement, “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.”
Global provides services to over 2,000 companies, offering tech-based solutions, including an online tool that provides real-time tracking for claims and policy enrollment, and a digital portal solution that enables policy coverage purchasing. The acquisition will also bolster Aon’s existing capabilities in commercial risk, health and reinsurance through Global’s tech solutions and team of over 850 experts.
“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 the synergy and expertise of the two organizations to enhance delivery and value to our existing customers and prospects,” stated Prabodh Thakker, chairman of Global Insurance Brokers, in the news release. “This acquisition will empower the Indian market to access best practices followed internationally and contribute to the overall growth of the Indian insurance sector.”
Until the acquisition has met regulatory approval, Aon and Global Insurance Brokers will continue to function independently. With a history of successful joint ventures spanning over a decade, it is the goal of both organizations that this acquisition will make a significant contribution to the growth of the Indian insurance industry.
