Lockton receives Irdai approval to acquire Arihant Insurance Broking

Insurance brokerage firm Lockton on Tuesday said it has received approval from the Insurance Regulatory and Development Authority of India (Irdai) to acquire Arihant Insurance Broking Services.

 

The acquisition marks Lockton's strategic expansion into the Indian market, where it aims to address the growing demand for advanced risk consulting and management services.

 

Arihant Insurance Broking Services is an arm of the Arihant Capital Group. Arihant Capital Markets sold its insurance broking business to focus on its core equity broking arm and explore other business opportunities.

 

"With over 135 offices globally, Lockton is now poised to leverage its international expertise and deep industry knowledge to deliver insurance solutions tailored to the unique needs of the Indian market," Lockton said in a statement.

 

The acquisition is part of Lockton’s vision to enhance its footprint in key emerging markets. It has been concluded with the transfer of shares, further solidifying Lockton’s market presence and enhancing its ability to serve a broader range of clients with comprehensive risk management and insurance solutions.