Kathmandu. United Insurance Broker International, an international insurance broker company, has decided to exit the Indian market after completing a 15-year-long journey.
The company has announced the sale of its minority stake in United Insurance Brokers (India) to Samara Capital affiliated Admi Services. Samara Capital is a leading Indian private equity firm.
According to The Business Standard, the transaction in partnership with SPL Group and Lucas & Mayo Group in majority shareholder Indora has resulted in a successful conclusion of the strategic review and sale process.
UIB India was founded in 2011. The company has grown into a reputed company in the Indian insurance broker service sector. Samara Capital, through its Adami platform, is actively expanding its presence in the insurance sector in India.
In addition to the share ownership acquisition, Adami will continue with UIB India’s core team while ensuring continuity of customer service.
