The purchase aims to enhance Beazley's expertise in modelling, underwriting, and managing risks tied to renewable energy portfolios.
The IRDAI granted certificates of registration to the two entities during its 134th board meeting.
The deal is Risk Theory's first MGA acquisition and part of its strategy to expand within specialised insurance markets.
GlobalData finds 36.9% of UK respondents are being deterred from switching to an EV by concerns over maintenance/repair costs.
