Gallagher buys majority stake in Indian insurance JV

U.S.-based insurance broker Arthur J. Gallagher & Co. has acquired a majority stake in India-based Edelweiss Gallagher Insurance Brokers Ltd. from partner Edelweiss Financial Services Ltd., The Hindu reported. With this, EGIBL is no longer a subsidiary of Edelweiss. Gallagher now owns 91% of EGIBL.