Aon Obtains India Broker License
NU Online News Service, March 10, 11:25 a.m. EST ? Global insurance broker Aon Corp. announced it was granted a broker's license in India by the Insurance Regulatory & Development Authority of India.
The Chicago-based firm said it is entering the market through a joint venture with Global Insurance Services, which the broker has maintained a relationship with for over 17 years.
The venture in India will be called Aon Global Insurance Services Pvt. Ltd., headquartered in Mumbai, India. The firm will provide a full range of insurance brokerage services to commercial clients and reinsurance services to insurance companies, the broker said.
Aon said it would also provide consulting, loss control and safety engineering services in India.
"The Indian market is strategically very important to Aon, as many of our multinational clients are active in India through subsidiaries or joint venture companies," said Patrick G. Ryan, Aon's chairman and chief executive officer. "India is the second largest market in the world by population and is at the cutting edge of many high tech industries."
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