Switzerland-based Zurich Insurance Group is set to make a landmark investment in the Indian non-life insurance sector by acquiring a 51% stake in Kotak Mahindra General Insurance Company for approximately Rs 4,051 crore. The deal, expected to be finalized by June 30, 2024, marks the largest investment by a global strategic insurer in an Indian non-life insurance firm. Zurich Insurance plans to further increase its stake to 70% within three years. This strategic collaboration signifies a significant move for Zurich’s entry into the Indian insurance space and underscores the transformative potential of the partnership for Kotak General Insurance.
Zurich Insurance to Acquire 51% Stake in Kotak General Insurance for Rs 4,051 Crore
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