Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, yesterday announced its re-entry into the insurance broking market in India.
Aon has acquired a 49% equity stake in Anviti Insurance Brokers, a fast growing, composite broking firm. Anviti will transition to the Aon brand pending regulatory approvals. The Anviti team will form the core of the joint venture and its growth plans in India, supported by Aon’s global resources and state-of-the-art technology and operations infrastructure.
Mr Jonathan Pipe, CEO of Anviti, will continue to lead the team. “We have strong capabilities in India and have established trusted advisory relationships since we started operations in 2017. I look forward to building upon this platform and accelerating results for our clients, colleagues and communities,” said Mr Pipe.
Mr Sandeep Malik, CEO of Asia Pacific, Aon, said, “We are excited about the innovation that Aon can bring to our clients in India, create exciting new opportunities for our colleagues and realise the full potential of our firm in a dynamic market.”
The deal marks Aon’s re-entry into India’s insurance broking market. In 2017, Aon sold its 26% stake in a local joint venture, Aon Global Insurance Brokers, to its partner.