Aon takes full ownership of Aon India Insurance Brokers
Aon plc has taken full ownership of Aon India Insurance Brokers by acquiring the remaining 51% stake from Catamaran Ventures, an Indian composite broking firm, for an undisclosed price.
It can be noted that the global professional services firm had acquired a 49% stake in Anviti Insurance Brokers, an Indian composite insurance broker, from Catamaran Ventures in December 2020. Anviti Insurance Brokers was renamed Aon India Insurance Brokers in June 2021.
Sandeep Malik — Executive Chairman of Aon Asia Pacific said: “We are delighted to reach this milestone following our initial investment last year. This step reaffirms Aon’s commitment to the Indian market and further enables us to create new sources of value for our clients, accelerate innovation and deliver a unique colleague experience.
“We are happy to have worked with Catamaran, which built the foundation to deliver immense client value with utmost integrity.”
Founded in 2016, Anviti Insurance Brokers secured license to operate in 2017. Since then, it has been catering to corporate clients across India with insurance and reinsurance broking services.
Jonathan Pipe — CEO of Aon India Insurance Brokers said: “We have strong local capabilities and have nurtured trusted advisory relationships in India. We are committed to addressing unmet client needs and look forward to continuing to bring the best of Aon to a dynamic market.”
Aon India Insurance Brokers has a workforce of more than 300 across nine locations in India.