Zurich Insurance to buy 70% in Kotak General Insurance

Zurich Insurance will invest around Rs 4,051 crore to acquire a 51% stake in Kotak General Insurance. Kotak Mahindra Bank, Kotak General Insurance, and Zurich Insurance have entered into an agreement.

This transaction, involves fresh capital and share purchase. Zurich will also have the option to acquire an additional 19% stake within three years.

“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, CEO Asia Pacific, Zurich Insurance Company Limited said.


“Over the 8 years since inception, Kotak General Insurance has invested to create a multi-product franchise with very strong fundamental building blocks,” said Gaurang Shah, Chairman, Kotak Mahindra General Insurance Company Limited.