Zurich Insurance buys 70% stake in Kotak Mahindra General Insurance, marking the largest foreign investment in India's general insurance market.
Zurich Insurance buys a 70% stake in Kotak Mahindra General Insurance Company Limited for ₹5,560 crore ($670m), marking the largest foreign investment in India's general insurance market and the first since the FDI limit was raised to 74% in 2021. The transaction concludes after receiving all necessary regulatory approvals, and Kotak Mahindra Bank now holds the remaining 30% of Kotak General's share capital.
June 19, 2024
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