Euromax Capital Invests in IRIBL via FDI route

Investment bank Euromax Capital has said that it has entered into a partnership with Indian insurance broking company, Integrated Risk Insurance Brokers (IRIBL). As part of the partnership, Euromax Capital acquired a 25 per cent shareholding in IRIBL. The company said that the investment was made through Foreign Direct Investment (FDI).

The company said that the deal has received approval from the Insurance Regulatory and Development Authority of India (IRDA). However, the financial details of the shareholding buy-out has not been disclosed by the companies.

“I am excited to embark on this journey with IRIBL, a company poised for exponential growth and innovation,” H.E Subodh Narain Agrawal, a global business leader, said about the deal. “India, under the transformative leadership of Hon. Prime Minister Modi, presents unparalleled opportunities for investment and expansion. I am confident that our partnership with IRIBL will not only yield significant returns but also contribute to the growth and development of India’s insurance ecosystem.”

IRIBL CEO Chintan Prakash Adva welcomed the partnership with Euromax Capital as a transformative step towards fostering knowledge exchange, cultivating strategic relationships, and delivering cross-border solutions to its clients.

“We are thrilled to welcome Euromax Capital as our partner,” remarked Adva. “Their investment marks a new chapter in our journey. Together, we are poised to leverage our combined strengths to capitalize on market opportunities and deliver turn-key solutions that drive sustainable growth and resilience.”

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