Edme Insurance Brokers, formerly Aditya Birla Insurance Brokers, is exploring plans for international expansion, reported the Times of India (TOI).  

Samara Capital, along with investors such as Norwest Venture Partners, Creador and industry veteran Sanjay Radhakrishnan, has acquired a 100% stake in Aditya Birla Insurance Brokers, valued at Rs4.6bn ($52.57m).  

The former Aditya Birla Insurance Brokers, once part of the Aditya Birla Group, is known for providing a spectrum of risk management and insurance solutions to a varied client base. 

The new promoters of Edme Insurance Brokers intend to make the company India’s first multinational insurance broker. 

Radhakrishnan said: “Structurally, most insurance brokers are built on the lines of insurance companies while having specialty lines. We aim to develop specialisations based on industries rather than just lines of business.”  

In an interview with TOI, Radhakrishnan stated that the company, with its composite brokerage model, plans to expand its operations in London, Dubai and Singapore. 

The company will concentrate on the retail, corporate and reinsurance segments, with an emphasis on digitalising its retail interface.  

Edme is in the process of enhancing its technology infrastructure, integrating AI to better structure data and facilitate smooth interactions with corporate clients’ systems. 

The company’s investment strategy includes a focus on people, technology and systems, aiming to enhance the penetration of insurance services among retail and corporate customers in India. 

Radhakrishnan developed the insurance business of multinational brokerage JLT in India before its acquisition by Marsh.