Pipe says Aon India committed to address unmet client needs
London-headquartered Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has taken full control of Aon India Insurance Brokers Pvt Ltd, reaffirming commitment to the Indian market.
Aon acquired a 49% 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.
Aon plc announced the 51% acquisition on 3 Sept 2021, making Aon India a wholly-owned business.
Aon India Insurance Brokers Private Limited CEO Jonathan Pipe 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 Asia Pacific Executive Chairman Sandeep Malik 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.”
Catamaran Ventures President M. D. Ranganath 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.”
Aon India Insurance Brokers Private Limited has over 300 colleagues across nine locations in India. Aon also helps companies make better workforce decisions through data, analytics and advice in India through its fully owned subsidiary, Aon Consulting Private Limited.
Catamaran of Bengaluru is a catalyst for creating innovative enterprises in India and manages over US$1 billion across asset classes. Catamaran invests in bold ideas from passionate entrepreneurs and works with them across stages to build successful enterprises. Further, it has partnered with respected global corporations to create enduring enterprises in India. Catamaran also invests in listed companies catering to large markets, with high standards of corporate governance and the ability to stay resilient across economic cycles. #investment #banking #acquisition /fiinews.com
