Zurich acquires majority stake in Kotak General Insurance; to build a leading general insurer for India

Mumbai, June 19, 2024

Zurich acquires 70% of Kotak General Insurance, becoming the first foreign insurer to enter India since the FDI rules were amended to allow up to 74% foreign ownership in 2021.
Zurich and Kotak will jointly build a leading general insurer in India, bringing together Zurich’s global insurance leadership and scale with Kotak’s local expertise and reach.
Acquisition positions Zurich in one of the world’s most important growth markets and reflects continued progress in Asia Pacific.

Source: Zurich Insurance (Press Release)

About the author

Amitabh Arora

Amitabh Arora has more than 18 years of experience promoting foreign direct investments (FDI), trade and economic relations between India and Switzerland, South Korea, United Kingdom and Canada. He is currently working as Director Key Accounts at the Greater Geneva Berne area (GGBa), the economic development agency of western Switzerland. GGBa offers a comprehensive range of services at no charge to foreign companies seeking to establish a presence in Switzerland. He is also the founder of FDITracker.com, tracking FDI developments worldwide. Amitabh has a Masters in International Business from the Indian Institute of Foreign Trade (IIFT) and a Bachelor of Business Studies (BBS) from College of Business Studies, India.