NYSE-listed Aon plc, a leading global professional services firm, on Tuesday, announced that it has successfully completed the transaction to acquire Global Insurance Brokers (GIB), an insurance and reinsurance broking and risk management firm.

GIB is now wholly owned by Aon and will formally integrate with Aon India Insurance Brokers (AIIB) following the finalisation of the National Company Law Tribunal merger process which is expected later this year. 

The acquisition strengthens Aon’s existing broking and advisory capabilities across the commercial risk, health and reinsurance markets. This combined with Aon’s talent consulting business, creates an integrated team of over 1,100 professionals across Aon in India.

“This (acquisition) is an exciting milestone in Aon’s journey in India and reflects our commitment to the Indian market,” said Rishi Mehra, Head of Aon for India. 

“The exceptional talent and breadth of capabilities across our two firms will create opportunities for our colleagues and expand our ability to better serve the growing needs of our clients.” 

Following the finalisation of the merger process, GIB will transition to Aon’s brand. 

“India presents significant opportunities for growth and innovation,” said Jon Pipe, CEO and Principal Officer of AIIB. “GIB and Aon share common values and a firm commitment to client excellence. We are excited to come together to help clients face today’s rapidly changing and increasingly complex and interconnected challenges.” 

The transaction significantly expands Aon’s existing capabilities in India to help clients navigate volatility and make better decisions. 

In the interim, GIB will operate independently as an Aon company. Mehra will join the GIB board as its Chairman subject to customary approvals. 

Jon Pipe, CEO and principal officer of AIIB and GIB’s existing executive leadership team will work closely with Mehra to help clients make better decisions to protect and grow their business.