Aon Increases Stake to 100 Percent in Aon India Insurance Brokers, Acquiring Remaining Share from Catamaran
SINGAPORE - Media OutReach - 2 September 2021 - Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today 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.
Sandeep Malik, Executive Chairman, Asia Pacific, Aon
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, said: "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.
More information about Aon's offerings in India is available here.
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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Catamaran is a catalyst for creating innovative enterprises in India and manages over $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. Please visit https://catamaran.in/ for more details.