Indian insurance company Global Insurance Services Brokers Private Limited and its promoters Prabodh Thakker and Sunita Thakker have acquired the entire stake of 26% of Aon Holdings BV in their Indian insurance JV broking company, Aon Global Insurance Brokers Private Limited, for an undisclosed amount, as reported by The Economic Times and The Insurance Insider. Post the acquisition, the name of the company has been changed to Global Insurance Brokers Private Limited.
DSK Legal led by partner Satish Kishanchandani and senior associate Jayesh Kothari acted for Global Insurance Services Brokers Private Limited and its promoters Mr. Prabodh Thakker and Mrs. Sunita Thakker for the acquisition.
A Trilegal team led by Delhi partner Harsh Pais, counsel Clarence Anthony and associate Sanjam Arora acted for Aon Holdings BV.
The JV, Aon Global Insurance Brokers Private Limited, was established in 2001 with an investment of Rs. 6.2 million from Aon and is the second-largest insurance broker in the country, collecting a premium income of Rs 2,000 crore a year. It was also announced earlier in 2015, that Aon had intended to exit the JV, citing the regulatory changes as per the recent amendment to the Insurance Act.
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