Avonmore Capital & Management Services set to transfer 49% stake in Almondz Insurance Brokers

Subject to the approval of IRDA

Avonmore Capital & Management Services announced that the Company has entered into an agreement with WILLIS Europe B.V (Willis), Anemone Holdings (Anemone) and Others for transfer of its 49% stake out of its entire shareholding in Almondz Insurance Brokers (AIBPL) to Willis and rest to its Wholly owned subsidiary namely Anemone. This agreement is subject to the approval of Insurance Regulatory and Development Authority (IRDA) and the members of the Company.

The aforesaid transfer, subject to the approvals mentioned above will result in cessation of AIBPL as the subsidiary of the Company.

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