Kotak Mahindra Bank, Kotak Mahindra General Insurance Company (Kotak General Insurance) and Zurich Insurance Company (Zurich) have entered into definitive agreements for a transaction whereby Zurich will invest (approximately) Rs 4,051 crore to acquire a 51% stake in Kotak General Insurance through a combination of fresh growth capital and share purchase.

Further, Zurich will acquire an additional stake of 19% within a period of three years from its initial acquisition. Zurich's investment represents the single largest investment by a global strategic insurer in an Indian non-life insurer.