This story is from July 03, 2021
Gallagher buys out Edelweiss in insurance broking JV
Mumbai: UK-based
It will also give clients access to a larger suite of insurance products and services. The business will rebrand to Gallagher in the coming months.According to Edelweiss Group chairman Rashesh Shah, the sale would help the group reallocate capital and invest in scaling up its fast-growing life and non-life insurance businesses.
Vyvienne Wade, Gallagher chairperson of global broking in Europe, Middle East & Asia, said, “We view India as a key and strategic market for the insurance industry and for Gallagher, given its scale and growth potential, and we see many interesting opportunities for further development of the business.
insurance
brokerGallagher
will acquire a 100% stake inEdelweiss
Gallagher Insurance Broker (EGIBL
) by purchasing the 70% held by its Indian partner.IPL 2025 mega auction
general insurance
solutions to clients across India. The business operates across four areas — corporate, affinity & association,reinsurance
& global and digital solutions. According to Gallagher, this acquisition of the remaining shares of EGIBL will help enable a deeper integration with Gallagher’s global operations, helping scale up the business significantly.It will also give clients access to a larger suite of insurance products and services. The business will rebrand to Gallagher in the coming months.According to Edelweiss Group chairman Rashesh Shah, the sale would help the group reallocate capital and invest in scaling up its fast-growing life and non-life insurance businesses.
Vyvienne Wade, Gallagher chairperson of global broking in Europe, Middle East & Asia, said, “We view India as a key and strategic market for the insurance industry and for Gallagher, given its scale and growth potential, and we see many interesting opportunities for further development of the business.
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