US firm Arthur J. Gallagher acquires Mumbai broker Edelweiss

The deal is still subject to regulatory approval.

American risk management firm, Arthur J. Gallagher & Co., has purchased the remaining shares of Mumbai-based Edelweiss Gallagher Insurance Brokers from Edelweiss Financial Services. 

The deal is subject to approval by the Insurance Regulatory and Development Authority of India.

Edelweiss Gallagher Insurance Brokers is an insurance/reinsurance broker offering general insurance solutions to clients across India within four business lines – corporate, affinity and association, reinsurance and global, and digital solutions.

"Our partnership with Edelweiss has delivered strong results and this new step provides an exciting opportunity to establish a broader Gallagher footprint in India," said J. Patrick Gallagher, Jr., chairman, president, and CEO of Arthur J. Gallagher & Co.