Aon plc, a global professional services firm providing a broad range of risk, retirement and health solutions, has announced that it has increased its stake in Aon India Insurance Brokers Pvt Ltd. from 49 percent to 100 percent, acquiring the remaining share from Catamaran Ventures.
Aon acquired a 49 percent stake from Catamaran Ventures in the Indian composite broking firm, Anviti Insurance Brokers Private Limited, in 2020. Anviti was founded by Catamaran in 2016 and subsequently rebranded as Aon India Insurance Brokers Private Limited in June 2021.
Jonathan Pipe, CEO, Aon India Insurance Brokers Private Limited, 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.”
Sandeep Malik, Executive Chairman, Asia Pacific, Aon, 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.”
M.D. Ranganath, President, Catamaran Ventures, added, “Catamaran’s objective has always been to bring world-class business practices to India by partnering with global companies and to create value and jobs in India. In a short period of time, Aon India Insurance Brokers has established itself as a leading, well-respected corporate insurance broking firm in India. We would like to thank Aon for the successful collaboration over the years and wish them a rewarding journey ahead.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.