The Insurance Regulatory and Development Authority of India (IRDAI) has given regulatory approval to independent insurance broker Lockton to acquire Arihant Insurance Broking Services Limited.
Lockton’s strategic expansion into the Indian market is consistent with the company’s broader vision to expand its footprint in key emerging markets and to provide high-quality, customer-focused services worldwide. This is consistent with our efforts.
Prior to this acquisition, Arihant Insurance Broking Services Limited was part of Arihant Group, which was incorporated in April 2009.
As a matter of group strategy, Arihant Capital Markets has reportedly decided to sell its insurance broking business to focus on its core stock broking division and explore other business opportunities.
The acquisition, completed with a stock transfer, strengthens the company’s market presence and enhances its ability to serve a broader range of customers with comprehensive risk management and insurance solutions.
Lockton currently has over 135 offices around the world and is well-equipped to leverage its international expertise to provide insurance solutions tailored to the needs of the Indian market.
Dr. Sandeep Dadia, Chief Executive Officer and Country Head, India, commented:
“Our team is dedicated to providing unparalleled technical expertise and building long-term, strategic partnerships with our clients. As we set up our new venture, we are fully committed to making a positive impact on the insurance industry in India.”
