Blackstone acquires 70% in Ace Insurance for ₹1,700 cr

GLOBAL PRIVATE EQUITY giant Blackstone has acquired a majority stake in New Delhi-based Ace Insurance Brokers for around ₹1,700 crore, marking one of the largest transactions in India’s insurance intermediary market.

- NARAYANAN V

According to sources, the US-based investor has purchased about 70% stake in Ace Insurance Brokers, which provides a wide range of insurance and reinsurance services including property, transit, liability, aviation, and marine hull insurance, along with protection and indemnity coverage. The firm is also known for arranging major insurance covers for the Adani Group.

“Blackstone has acquired majority stakes in Ace Insurance Brokers. However, we don’t want to comment on the valuation,” a Blackstone India spokesperson told FE.