Howden Insurance Brokers India Pvt. Ltd., the Indian arm of the largest non-US broker globally, has recently sold 46% of its equity to Howden UK Limited.

L&L Partners Law Offices advised Praveen Vashishta, the CEO and MD of Howden India on the deal, and assisted in deal structuring, negotiation, and end-to-end documentation for the transaction, including assistance with IRDAI approval.

The transaction team consisted of Sudipta Routh (Partner), Pooja Dadoo (Managing Associate), and Saumya Kapoor and Malika Nanduru (Associates).

In a heavily regulated and restricted market, once the government permitted 100% FDI in insurance intermediaries under the automatic approval route, Howden decided to increase its stake in its Indian arm from 49% to 100%.

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