Avonmore Capital & Management Services has received approval from Insurance Regulatory and Development Authority of India (IRDA) to transfer stake in its subsidiary company namely Almondz Insurance Brokers (AIBPL). 49% stake of the company in AIBPL will be transferred to WILLIS Europe B.V. and rest 51% to its wholly-owned subsidiary company namely Anemone Holdings. After the transfer, AIBPL will cease to be a subsidiary of Avonmore Capital & Management Services.
Avonmore Capital is registered with the Reserve Bank of India to carry on the Business of a Non-Banking Financial Institution without accepting public deposits and presently, the company is involved in NBFC activities and sub-broker advisory services.
