Aon has increased its stake in Aon India Insurance Brokers from 49% to 100%, acquiring the remaining share from Catamaran Ventures. Aon India Insurance Brokers operates across nine locations in India.
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 acquired a 49% stake from Catamaran Ventures in the Indian composite broking firm, Anviti Insurance Brokers, in 2020. Anviti was founded by Catamaran in 2016 and subsequently rebranded as Aon India Insurance Brokers in June 2021.
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.”