Mumbai: AON Global Insurance Services Pvt Ltd (AGISPL) has received its composite insurance broking licence from the Insurance Regulatory and Development Authority of India.

The company will have an initial capital base of Rs 2.5 crore and will establish eight to nine offices in major cities across India, says AGISPL chairman Prabodh Thakkar.

The company will provide a full range of insurance brokerage services to new and existing corporate and industrial clients as well as reinsurance services to insurance companies. It will also provide consulting and benefits consulting, loss-control and safety engineering services to insurance companies.

While the early stages of the business will be focussed on services towards the corporate sector and transaction of reinsurance business, a long-term strategy will encompass even the rural sectors.

Plans are under way to roll out initiatives covering a whole range of market segments, says AGISPL chief executive officer Neil Mathews. ''The initial focus will be on uninsured assets of corporates.''

AGISPL is as joint venture between the US-based reinsurance broker AON Corporation and Global Insurance Services, an insurance consultant in India with three decades of experience in insurance- and reinsurance-related services.