World skilled providers firm Aon has closed the acquisition of World Insurance coverage Brokers (GIB), enhancing its footprint within the Indian market.
The deal, agreed in October 2023, is anticipated to bolster Aon’s broking and advisory providers within the business threat, well being and reinsurance sectors.
GIB is now an entirely owned subsidiary of Aon and can start formal integration with Aon India Insurance coverage Brokers (AIIB) after the Nationwide Firm Legislation Tribunal merger course of concludes, which is anticipated later this yr.
Till then, GIB will function independently inside Aon.
As a part of the transaction, Rishi Mehra, the newly appointed head of Aon for India, is ready to turn into the chairman of the GIB board, though the transfer is contingent on customary approvals.
As well as, Jon Pipe, CEO and principal officer of AIIB, alongside GIB’s present government management, will collaborate with Mehra to help purchasers in defending and rising their companies.
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With the addition of GIB, Aon’s built-in workforce dimension in India will develop to greater than 1,100, furthering the corporate’s Aon United technique.
After the merger course of is finalised, GIB will undertake the Aon model.
GIB outgoing chairman Prabodh Thakker added: “The Indian insurance coverage market has advanced considerably throughout my time as GIB’s chief and Aon’s potential to ship capabilities in Threat Capital and Human Capital makes them well-placed to take the enterprise ahead.
“GIB purchasers will profit from Aon’s international assets and superior capabilities whereas GIB colleagues may have thrilling new alternatives to ship consumer worth in a dynamic market.”
Established in 1973, GIB is a broking firm in India with 17 places of work. The corporate presents an array of providers together with threat consulting, insurance coverage placement, threat administration and claims administration.
