Equirus Raghnall Insurance Broking Director Amit Goel

Equirus Raghnall Insurance Broking, a part of Equirus Group, is eyeing a 35 per cent growth in its revenue during the current financial year as commercial and specialty lines are expected to continue a healthy momentum.

“Over the last couple of years, we have seen steady expansion in both our client base and premium volumes placed. Currently we work with around 200 mid-market corporates and 600 MSMEs across seven States in India and place close to ₹300 crore in annual premiums,” Equirus Raghnall Insurance Broking Director Amit Goel told businessline.

The insurance broker and risk advisor has largely been focussing on strengthening relationships with mid-market and SME clients rather than pursuing growth purely through scale. “We work across a diversified portfolio of clients spanning manufacturing, infrastructure, financial services, healthcare, logistics and emerging sectors such as renewable energy and technology,” Goel said.

“We remain cautiously optimistic about growth in the current fiscal with an expected 35 per cent growth in revenue numbers. The overall insurance market in India continues to see healthy momentum, particularly in commercial and specialty lines, and we expect our business to grow broadly in line with or slightly ahead of industry growth,” he added.

Some of the key segments driving growth for Equirus Raghnall include infrastructure, renewable energy, financial institutions, healthcare, cyber insurance and liability-related covers. It is also seeing increasing traction in employee benefits and specialty risk advisory services.

As a broking firm, its approach has been less about chasing market share numbers and more about building domain expertise and long-term client relationships, the director pointed out, adding it believes there is significant headroom for growth in India’s commercial insurance market, especially as insurance penetration remains relatively low compared to global benchmarks.

“Going forward, we expect growth to come from sectors where businesses are becoming more conscious of balance sheet protection, business interruption exposures, cyber risks and evolving regulatory requirements,” Goel added.

Published on June 12, 2026