Edme Insurance Brokers acquires UIB Insurance to strengthen reinsurance business

Edme Insurance Brokers Ltd (formerly Aditya Birla Insurance Brokers Ltd) has acquired the Indian operations of London-based UIB Group in a strategic initiative to strengthen its value proposition.

UIB Group is a privately owned international insurance and reinsurance broker. Its Indian operation, UIB Insurance Brokers (India) Pvt. Ltd, extends the group’s operations to India. Edme’s acquisition will help the insurance broker gain exposure to reinsurance brokerage while also allowing the entity to access UIB’s deep client relationships.

The company did not mention the amount at which the acquisition, which is subject to regulatory approvals, was made. Following completion of the applicable statutory process, the merged entity will continue as Edme Insurance Brokers, a company statement from Edme said.

The statement added that the merger of the two companies marks a significant milestone in Edme’s journey to being recognised as one of the largest players in the Indian insurance and reinsurance broking industry.

Sanjay Radhakrishnan, CEO of Edme Insurance Brokers, said there will be no reduction in employee headcount or change to client-facing teams, and leadership roles will remain unchanged, ensuring continuity for all stakeholders.

The merged entity aims to become a leading force in wholesale, reinsurance, and retail broking, offering insurance solutions and tech-enabled risk management solutions to clients in the Indian market, the statement said.

Edme has been pursuing both organic and inorganic routes to emerge as one of the leading insurance brokers in India. This strategic merger brings together two strong players with complementary strengths: Edme’s vision for sector-focused innovation and digital transformation and UIB India’s legacy of reinsurance expertise and deep client relationships.

UIB’s clients in India will not see any change in service quality or terms. In fact, clients will gain access to broader expertise, more product options, and deeper placement reach, including expanded offerings such as cyber, liability, trade credit, surety, PEMA, parametric solutions, and speciality reinsurance solutions, Radhakrishnan said.

Edme and UIB will leverage their capabilities, talent pool, and digital infrastructure to deepen insurance penetration, design bespoke risk solutions, and enhance customer experience across India, the company statement said.

The combined entity is well poised to deliver market-beating growth of 25% plus CAGR in the coming years, Radhakrishnan said.

“With UIB India’s reinsurance experience and our deep local insights, we are well-positioned to deliver bespoke solutions across wholesale, retail, and reinsurance segments,” Edme’s Radhakrishnan said.

“This merger is a key milestone in our journey to become a dominant force in the financial services sector and contribute towards Irdai’s ‘Insurance for All by 2047’ vision. This transaction aligns perfectly with Edme’s long-term ambition of becoming a globally respected Indian multinational in insurance broking,” Manish Mehta, managing director and co-CIO, Samara Capital, said.

Surendra Mehta, the CEO of UIB Insurance Brokers, added, “We are excited to join hands with Edme to build on the strong foundation established by both firms. This merger is just the beginning of a new chapter.”

Edme Insurance Brokers acquired Aditya Birla Insurance Brokers in 2024. Following its acquisition, Edme introduced an expanded suite of products and solutions to its clients in line with the dynamic international insurance market.

UIB Group is one of the largest privately owned independent international insurance and reinsurance brokers and is headquartered in London. It comprises more than 500 professionals across 16 countries, including strategic hubs in Europe, Asia, Latin America, and the Middle East. UIB is renowned for its expertise in complex risk sectors—including aviation, marine, energy, cyber, political violence, construction, and financial institutions—providing bespoke global solutions supported by strong local knowledge.