India: UIB exits India business

International broking major, UIB International has decided to exit the Indian market after 15 years.

The company announced the sale of its minority shareholding in UIB Insurance Brokers (India) to Edme Services, an affiliate of Samara Capital, a leading Indian private equity firm.

This transaction, conducted in partnership with majority shareholders Indorama SPL Group and Lucas & Mayo Group, marks the successful conclusion of a strategic review and sale process.

UIB India was set up in 2011 and has grown into a respected player in the Indian insurance brokerage space. Samara Capital, through its Edme platform, is actively expanding its presence in India’s insurance sector. As part of the acquisition, Edme will retain the core team of UIB India, ensuring continuity for clients and supporting their broader vision of building a pan-India insurance distribution business.