EDME Insurance Brokers Sets Sights on Global Expansion, Eyes Rs 1,600 Crore Mark

EDME Insurance Brokers, previously known as Aditya Birla Insurance Brokers Ltd, plans to expand overseas, targeting cities like Dubai, Singapore, and London. CEO Sanjay Radhakrishnan revealed an acquisition-driven growth strategy, aiming to double the business to Rs 1,600 crore within five years by leveraging technology and sectoral expertise.

EDME Insurance Brokers, formerly known as Aditya Birla Insurance Brokers Ltd, has announced its ambitious plan for international expansion and significant business growth. The company is setting its sights on Dubai, Singapore, and London, with office launches planned for the former two cities within the next year, according to CEO Sanjay Radhakrishnan.

The acquisition of UIB Insurance Brokers (India) Pvt Ltd has propelled EDME to the position of second-largest insurance broker in India, enhancing its business to Rs 850 crore. The merger brings together the strengths of both organizations, providing scale, industry-aligned expertise, and advanced technological capabilities, along with access to global markets.

Focusing on sectors like IT, BFSI, construction, infrastructure, and power, EDME aims to double its business every three to four years. The company plans to utilize technology extensively to support its growth, maintaining a lean workforce of under 1,000 employees. This strategic emphasis on technology and sector-specific expertise positions EDME for sustained growth and success in specialised risk and insurance solutions.

(With inputs from agencies.)