In a major consolidation move for India’s insurance industry, Edme Insurance Brokers Ltd — formerly Aditya Birla Insurance Brokers — has acquired the Indian operations of London-based UIB Group. The deal is set to significantly boost Edme’s capabilities in the reinsurance space, particularly in energy and aviation segments where UIB has a strong global presence.
Buyer Edme Insurance Brokers Ltd Former Name Aditya Birla Insurance Brokers Ltd Seller UIB Insurance Brokers (India) Pvt Ltd Key Strengths Added Energy, aviation, and specialty reinsurance expertise Strategic Target 25%+ annual growth; support “Insurance for All by 2047”
The acquisition combines Edme’s digital-first approach with UIB India’s deep reinsurance expertise and long-standing client relationships. Upon regulatory approvals, the merged entity will continue under the Edme Insurance Brokers brand, ensuring seamless service for existing clients.
Sanjay Radhakrishnan, CEO of Edme, said:
“By integrating UIB’s reinsurance strengths with our innovation-driven broking model, we’re set to deliver customised, tech-enabled solutions across wholesale, retail, and reinsurance segments — without disrupting our client-facing teams.”
Manish Mehta, MD & Co-CIO at Samara Capital, called the deal “a milestone in building a globally respected Indian multinational in insurance broking, in alignment with IRDAI’s ‘Insurance for All by 2047’ vision.”
For UIB India’s clients, the merger opens access to a wider range of solutions, including cyber, liability, trade credit, surety, PEMA, and parametric products. Edme aims to leverage these capabilities to drive 25%+ CAGR in the coming years.
Why It Matters
- Strengthens India’s position in global reinsurance, especially in high-risk sectors like aviation and energy.
- Expands access to innovative products for corporate clients.
- Aligns with IRDAI’s push for universal insurance coverage by 2047.
With this acquisition, Edme is positioning itself as a powerhouse in India’s insurance broking sector — blending global expertise with local market insights to deliver cutting-edge risk solutions.
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