Zurich Insurance Company Limited will acquire 51% stake in Kotak General Insurance for ₹4,051 crore.
Banking & Finance
Zurich Insurance Company Limited to acquire 51% stake in Kotak General Insurance for ₹4,051 crore. Zurich Insurance Company will make its investment through a mix of new growth capital and share purchases. According to the bank, Zurich plans to buy a further 19% stake in the company within three years of the first deal. “Kotak Mahindra Group's pan-India 'phygital' distribution presence and Zurich's distinctive global capabilities across digital assets, B2B and B2C formats Kotak General Insurance franchise has the potential to create a transformational 'digital' impact, delivering Indian General efficiently and rapidly delivering innovation. Morgan Stanley served as financial advisor to Kotak Mahindra Bank and Kotak General Insurance Company, thanks to its strategic relationship with Zurich Insurance Group.
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