Roadzen (RDZN) announced that it has signed a definitive agreement to acquire majority control of a commercial auto insurance broker and managing general underwriter, MGU, operating across several U.S. states. The acquisition is scheduled to close within this quarter, subject to customary closing conditions. The MGU is licensed to operate as an insurance broker across California, Texas, Illinois, and New Jersey, and serves small and mid-sized fleets through an expanding national network of agencies and producers. It also maintains Lloyd’s of London Coverholder status, enabling it to underwrite specialty transportation and commercial vehicle risks on behalf of Lloyd’s syndicates.
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