Zurich Insurance Enters Indian Market with Major Stake in Kotak General Insurance

Zurich Insurance has acquired a 70% stake in Kotak Mahindra's general insurance arm for Rs 5,560 crore. This marks the largest foreign investment in India's general insurance market since FDI limits were increased in 2021. The entity will be rebranded as Zurich Kotak General Insurance.

In a landmark move, Zurich Insurance Company has taken a commanding 70% stake in Kotak Mahindra Bank's general insurance arm, Kotak General Insurance, for Rs 5,560 crore.

This acquisition is significant as it represents the largest foreign investment in India's general insurance sector since the modification of FDI rules in 2021 to allow up to 74% foreign ownership.

Following regulatory approvals, the rebranded Zurich Kotak General Insurance aims to flourish in India's burgeoning insurance market, reflecting a synergy of innovation and customer-centric services.

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