Karus Vysya Bank Expands, Edme Insurance Brokers Acquires UIB's Local Arm

Karus Vysya Bank inaugurated three new branches enhancing its reach in Maharashtra, Tamil Nadu, and Andhra Pradesh. Concurrently, Edme Insurance Brokers acquired the local operations of UK's UIB Insurance Brokers, aiming to strengthen its foothold in wholesale, reinsurance, and retail broking.

Karus Vysya Bank marked a notable expansion on Monday, inaugurating three new branches across India. The bank's newest locations in Thane's Ghodbunder Road, Trichy in Tamil Nadu, and Kurnool in Andhra Pradesh enhance its footprint in these significant regions.

In another major business move, Edme Insurance Brokers, backed by Samara Capital, has acquired the local operations of the UK's UIB Insurance Brokers. The terms of the acquisition remain undisclosed.

This strategic merger aims to bolster Edme's capabilities in wholesale, reinsurance, and retail broking, according to an official statement. Such moves underscore the growing dynamism in India's financial landscape.

(With inputs from agencies.)