India Insure Looks To Acquire Broking Firms

India Insure, Hyderabad-based insurance broking house, , is planning to acquire a couple of broking companies in the country. India Insure, which provides expert advice and assists in placing the appropriate insurance policy with the chosen insurer, was the first company to get a broking licence from the Insurance Regulatory and Development Authority in January 2003. Additionally, the insurance broking firm is the first broker to be upgraded from direct to composite status in 2006. The company has chosen to focus on the corporate and institutional market though it has been permitted to handle retail and individual business. Currently only 25 per cent of the corporate insurers are approaching insurance companies through broking houses. Three years down the line this percentage will increase to over 75.