Alliance Insurance Brokers has initiated a process to sell a minority stake to raise approximately ₹800-900 crore through a mix of primary and secondary share sales. According to reports from The Economic Times, the company will sell about 30% stake to raise capital from institutional investors, having roped in O3 Capital as an advisor to help with the process. The round will see existing investor Access Asset Managers exit its 10-year-old stake in the company. As per The Economic Times, the company will likely use the fresh proceeds to deepen its presence across tier 2 and 3 areas in India, while expanding its footprint in reinsurance in global markets, including West Asia and Africa, through organic and inorganic plans.
The company plans to use the fresh proceeds to deepen its presence across tier 2 and 3 areas in India, while expanding its footprint in reinsurance in global markets, including West Asia and Africa, through organic and inorganic plans. As reported by The Economic Times, the final contours of the deal may change depending on the nature of the incoming investor. Both sources spoke on condition of anonymity as the discussions remain private.
India's insurance sector has witnessed significant growth, with the domestic market expanding at CAGR of 17% over the past two decades, according to IBEF estimates. The sector is projected to reach ₹19.3 trillion by FY26, driven by increased awareness, favourable regulatory changes, and greater participation from the private sector.
Founded in 2003 by industry veteran SV Thakkar, Mumbai-based Alliance Insurance serves as a one-stop solution for insurance services, risk management, and reinsurance broking. According to company documents, it currently operates under second-generation entrepreneur Aatur Thakkar, who was named CEO earlier this year. In 2016, Access invested ₹55 crore for about 25-26% stake in Alliance, while the remaining is held by promoters. Over the years, the company has built a sector-specific approach through dedicated teams with expertise across aviation & aerospace, financial institutions group, infrastructure & energy, manufacturing, services, media & entertainment, sports & events, specie, and privilege signature services.
In FY25, Alliance Insurance reported operating revenue of ₹182.5 crore compared to ₹163 crore a year earlier. However, its net profit narrowed to ₹19 crore from ₹29 crore in FY24, as reported by Tofler documents from the Ministry of Corporate Affairs. The company competes with domestic and international players including Mahindra Insurance Brokers, Ideal Insurance Brokers, Marsh India, and HUB International, among others.
