|
Zurich Insurance to buy 51% in Kotak company for ₹4,051 crore
![IndiaTimes]()
Thursday, 2 November 2023
Zurich Insurance Group is set to acquire a 51% stake in Kotak Mahindra General Insurance for Rs 4,051 crore ($487 million), valuing the company at around Rs 8,000 crore. This marks Zurich's return to India and is the largest investment by a global strategic insurer in an Indian non-life insurer. The deal includes an option for Zurich to acquire an additional 19% stake over time. Kotak Mahindra General Insurance reported a net loss of Rs 117 crore in FY23.
|
|
Thursday, 2 November 2023
