Blackstone, a global private equity giant, has acquired a 70% stake in New Delhi-based Ace Insurance Brokers in one of the largest transactions in India's insurance intermediary market, according to news platform, the Financial Express.
Ace Insurance Brokers provides a wide range of (re)insurance and reinsurance services, including property, transit, liability, aviation and marine hull, alongside protection and indemnity coverage.
“Blackstone has acquired majority stakes in Ace Insurance Brokers. However, we do not want to comment on the valuation,” a Blackstone India spokesperson told the Financial Express.