EDME Insurance Brokers Doubles Business with Strategic Acquisition

EDME Insurance Brokers aims to double its turnover to Rs 16,000 crore within four years, following its acquisition of UIB Insurance Brokers. This merger, enhancing its position in the market, focuses on various industries and utilizes technology to support growth, aiming to be below 1,000 employees.

EDME Insurance Brokers, formerly known as Aditya Birla Insurance Brokers Ltd, plans to double its business revenue to Rs 16,000 crore over the next four years. This ambitious target follows the acquisition of UIB Insurance Brokers (India) Pvt Ltd, elevating their business to Rs 8,500 crore, CEO Sanjay Radhakrishnan told PTI.

With this strategic acquisition, EDME Insurance Brokers now ranks as the second largest in the country, trailing only Marsh. 'We have identified focus areas such as IT, BFSI, construction, infrastructure, and power. Additionally, we are exploring sports, media, and entertainment sectors,' Radhakrishnan stated, emphasizing the company's diverse growth strategy.

The integration of EDME and UIB unites complementary strengths and leverages a unified operating framework comprising industry-aligned expertise and technology-led advisory. This synergy facilitates enhanced sector-specific solutions for corporate insurance and reinsurance markets, strengthening their service to Indian and multinational clients.

(With inputs from agencies.)