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Arthur J. Gallagher Acquires Interest in India-Based Edelweiss Insurance Brokers
Friday 24 May 2019

24 May 2019 - Illinois, US-based Arthur J. Gallagher and Co. has acquired a minority stake in India-based corporate insurance broker Edelweiss Insurance Brokers Ltd. (EIBL), the company said.
Terms of the transaction were not disclosed.
The deal is subject to approval by the Insurance Regulatory and Development Authority of India.
Gallagher said EIBL presents an opportunity to expand Gallagher's commercial insurance footprint in India, in keeping with the company's growth strategy to invest in market-leading businesses that broaden specialist capabilities and diversify geographic presence.
Arthur J. Gallagher and Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm with operations in 35 countries, offering client service capabilities in more than 150 countries.
EIBL is a wholly owned subsidiary of Edelweiss Group, a diversified financial services conglomerate in India. EIBL offers 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. 
Details
Date Published: 24/05/2019
Target: Edelweiss Insurance Brokers Ltd. (minority stake)
Country: India
Sector: Insurance
Type: Stakebuilding
Financing:
Status: Closed
Vendor:
Buyer: Arthur J. Gallagher and Co
Comment:
Terms of the deal were not disclosed

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