Aon has announced that Shailendra Sapra has been named CEO of the company’s reinsurance solutions in India.
Spara will also become a member of the APAC region’s Reinsurance Executive Committee effective June 1 2024.
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Based in Mumbai and reporting to George Attard, CEO of reinsurance for Aon’s APAC region, Sapra has previously serviced in a range of varied positions at the firm.
Now, he will seek to identify and develop growth opportunities for insurers and reinsurers presented by the quickly growing insurance market in India.
Furthermore, he will aim to close the close the country’s insurance protection gaps and support the development of new and existing lines.
Attard said: “As Aon expands its presence in India, I am pleased to welcome Shailendra as our India CEO for Reinsurance. India is predicted to have the fastest growing insurance sector of all G20 countries over the next five years; when coupled with the country’s fast-growing economy, a pro-active regulator, and an appetite for technology and innovation, its emerging insurance sector is clearly on an upwards trajectory. This appointment marks another milestone in Aon’s progress in India and reflects our broad commitment to the India market and to meeting our clients’ evolving needs – through investing in our Reinsurance capabilities, but also delivery of our broader Risk Capital and Human Capital capabilities.”
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By GlobalDataIn April 2024, Aon closed the acquisition of Global Insurance Brokers (GIB), enhancing its footprint in the Indian market.
The deal, agreed in October 2023, is expected to bolster Aon’s broking and advisory services in the commercial risk, health and reinsurance sectors.
GIB is now a wholly owned subsidiary of Aon and will begin formal integration with Aon India Insurance Brokers (AIIB) after the National Company Law Tribunal merger process concludes, which is expected later this year.
Until then, GIB will operate independently within Aon.
