Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has completed the purchase of a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a subsidiary of India’s leading diversified financial services conglomerate, Edelweiss Group.
Financial details of the transaction, which was first announced in May 2019, were not disclosed.
Headquartered in Mumbai, with branches in Dehli, Kolkata and Bangalore, EIBL is a fast-growing corporate insurance broker offering general insurance solutions to institutional as well as individual clients across India, said Arthur J. Gallagher & Co., in a statement issued when the deal was first announced in May.
Source: Arthur J. Gallagher & Co.
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