Willis buys stake in Indian broker

Broker Willis has acquired a 49 percent stake in Indian broker, Almondz Insurance Brokers, from Avonmore Capital & Management Services.

Willis’ subsidiary Anemone has also acquired a stake, which will result in Almondz ceasing to be a subsidiary of Avonmore.

This agreement is subject to the approval of Insurance Regulatory and Development Authority (IRDA) and the members of the company.