M&A

M&A

Insurance broking co. Edme acquires UIB’s India insurance biz

Linkedin Announcement   Business Line  

Samara Capital-backed Edme Insurance Brokers (formerly Aditya Birla Insurance Brokers) has acquired the minority stake held by UIB International in UIB Insurance Brokers India , the Indian operations of UK-based UIB group. Post the acquisitions, the merged entity will continue as Edme Insurance Brokers.Through this merger, Edme will help the insurance broker gain exposure in reinsurance brokerage and access the UIB’s client relationships and strengthen its presence in the Indian insurance market.Headquartered in London, UIB Group is a privately owned international insurance and reinsurance broker with more than 500 professionals across 16 countries, including strategic hubs in Europe, Asia, Latin America, and the Middle East.

For FY24, UIB Insurance Brokers had reported about INR 160.23 Cr in Operating Income and about INR 44.50 Cr in PAT.