Insurance broker g&m acquires ANDA from Marsh Singapore

Both companies will operate independently.

Local insurance broker g&m Pte Ltd has acquired ANDA Insurance Agencies Pte Ltd, a provider of domestic helper and motorcycle insurance from Marsh Singapore.

In spite of the global pandemic, domestic demand for domestic helpers and foreign workers has continued to grow. Coupled with major delays in development projects, the re-opening of borders will likely lead to a surge in the demand for both domestic helpers and foreign workers.

According to Douglas Chia, CEO of g&m, ANDA’s product line complements g&m’s group business and aligns with their efforts on business growth, digitalisation, and consolidation.

“With the huge shift to digitalisation in a post-COVID-19 world, many companies have started restructuring their businesses,” said Douglas. “Prior to the new normal, g&m had already been gearing up our business model for growth and scalability, ensuring that we are also better positioned to serve the retail segments of insurance.”

After the acquisition, g&m Pte Ltd and ANDA Insurance Agencies Pte Ltd will both operate independently as an insurance broker and agency, respectively. In line with future expansion plans, g&m will continue to seek out suitable acquisition opportunities in both the insurance broking and agency space.