The Insurance Regulatory and Development Authority of India (IRDAI) has granted independent insurance broker Lockton regulatory approval for the acquisition of Arihant Insurance Broking Services Limited.
Lockton’s strategic expansion into the Indian market aligns with its broader vision to enhance its footprint in key emerging markets, aligning with the company’s commitment to deliver high-quality, client-focused services across the globe.
Prior to this acquisition, Arihant Insurance Broking Services Limited was part of the Arihant Group, incorporated in April 2009.
It’s been reported that as a matter of group strategy, Arihant Capital Markets decided to sell its insurance broking business to focus on its core equity broking arm and explore other business opportunities.
This acquisition, which has been concluded with the transfer of shares, solidifies the broker’s market presence and enhances its ability to serve a broader range of clients with comprehensive risk management and insurance solutions.
Lockton now has over 135 offices worldwide, and is well-equipped to leverage international expertise to deliver insurance solutions tailored to the needs of the Indian market.
Dr. Sandeep Dadia, Chief Executive Officer and Country Head of India, commented, “We are excited to receive the approval at a time when there is a significant demand for robust risk management solutions.
“Our team is dedicated to offering unparalleled technical expertise while building long-term, strategic partnerships with our clients. As we establish this new venture, backed by Lockton’s global resources, we are committed to making a positive impact in the Indian insurance sector.”