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Zurich Insurance Company to acquire 51% stake in Kotak General Insurance Back
(02 Nov 2023)

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.

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