EDME Insurance Brokers aims to double business to Rs 16,000 cr in next 4 yrs

New Delhi, Jan 16 (PTI) EDME Insurance Brokers, formerly Aditya Birla Insurance Brokers Ltd, plans to double its business to Rs 16,000 crore in the next four years.

With the acquisition of UIB Insurance Brokers (India) Pvt Ltd, the business has got a leg up, and the business has increased to about Rs 8,500 crore, EDME Insurance Brokers Chief Executive Officer Sanjay Radhakrishnan told PTI.

With the deal, he said, EDME Insurance Brokers has become the second biggest in the country after Marsh.

For the rapid growth, he said, "We have identified around 14-18 industries that we want to focus on. For example, IT and BFSI, construction, infrastructure, and power. We are also looking at sports, media, and entertainment. Additionally, we are looking at mergers and acquisitions," he said.

With the addition of a new segment, he said, "We want to double the business every three to four years." Asked about manpower increase, he said, "We see our headcount not growing as significantly as the numbers because we are using a lot of technology to back up our growth plans. We should be sub 1,000 people by the end of the next 3-4 years." Talking about the merger, he said, "The coming together of EDME and UIB brings complementary strengths under a unified operating framework - combining scale, industry-aligned expertise, global market access, and technology-led advisory." The integration goes beyond consolidation, positioning the combined organisation to deliver deeper, sector-specific risk and insurance solutions across corporate insurance, reinsurance and specialised risk segments, he said.

Enhanced capacity, access to international insurance and reinsurance markets, and coordinated cross-border capabilities further reinforce the organisation's ability to support Indian and multinational clients, he added. PTI DP DRR