Arthur J. Gallagher & Co. (AJG) announced Monday that it has purchased a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a wholly owned subsidiary of Edelweiss Group, India's leading diversified financial services conglomerate. The deal is subject to approval by the Insurance Regulatory and Development Authority of India.
Mumbai, India-based EIBL is a fast-growing corporate insurance broker offering general insurance solutions to institutional as well as individual clients across India, and is well-positioned to leverage the distribution networks of its parent group.
The acquisition is expected to expand Gallagher's commercial insurance footprint in India, in keeping with its growth strategy to invest in market-leading businesses that broaden its specialist capabilities and diversify its geographic presence.
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