Zurich acquires 51% stake in Kotak Mahindra Bank's general insurance arm

The insurer said it plans to buy 19% more in the future.

Zurich has announced its acquisition of 51% in Kotak Mahindra Bank’s general insurance arm, Kotak General Insurance. The deal is estimated at $488m, pending regulatory approvals and customary closing adjustments.

Additionally, Zurich intends to acquire up to an additional 19% stake in the future.

This transaction is expected to be the largest foreign insurer investment in the Indian insurance sector since the change in ownership regulations in 2021.

ALSO READ: Zurich inks underwriting agreement with RentCover

“India is one of the world’s most important markets with immense potential and we are pleased to be making a significant commitment with an excellent partner,” said Tulsi Naidu, Zurich’s Chief Executive Officer of Asia Pacific.

India's rapid economic growth and low insurance penetration, combined with increased awareness and favourable regulatory changes, make it a highly attractive and rapidly growing insurance market.

By 2030, India is projected to become the world's third-largest global economy.

Follow the link for more news on

Zurich Insurance Group

Also Read

How much do Malaysian FI boards really cost?

Enhanced SME Financing Guarantee Scheme officially in effect

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit