Kotak General Insurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/kotak-general-insurance/ Wed, 19 Jun 2024 10:20:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Zurich completes acquisition of 70% stake in Kotak General Insurance https://insuranceasianews.com/zurich-insurance-completes-acquisition-of-70-stake-in-kotak-general-insurance/ Wed, 19 Jun 2024 04:05:43 +0000 https://insuranceasianews.com/?p=156323 The transaction is the largest foreign investment in India’s general insurance market and the first by a foreign insurer since the FDI limit was raised to 74%, according to the global carrier.

The post Zurich completes acquisition of 70% stake in Kotak General Insurance appeared first on InsuranceAsia News.

]]>

Zurich Insurance has completed the acquisition of a 70% stake in Kotak General Insurance from Kotak Mahindra Bank for INR55.6 billion (US$ 670 million) through a combination of fresh growth capital an...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Zurich completes acquisition of 70% stake in Kotak General Insurance appeared first on InsuranceAsia News.

]]> RBI approves Zurich’s acquisition of Kotak General Insurance’s 70% stake https://insuranceasianews.com/rbi-approves-zurichs-acquisition-of-kotak-general-insurances-70-stake/ Wed, 05 Jun 2024 23:30:51 +0000 https://insuranceasianews.com/?p=155291 All regulatory approvals required for the transaction are now received, according to Kotak Mahindra Bank.

The post RBI approves Zurich’s acquisition of Kotak General Insurance’s 70% stake appeared first on InsuranceAsia News.

]]>

Kotak Mahindra Bank has received the approval from the Reserve Bank of India (RBI) to sell a 70% stake in its P&C insurance arm to Zurich, clearing the last hurdle needed for the completion of the...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post RBI approves Zurich’s acquisition of Kotak General Insurance’s 70% stake appeared first on InsuranceAsia News.

]]> Zurich to buy Kotak General Insurance’s 70% stake upfront in US$671m amended deal https://insuranceasianews.com/zurich-to-buy-kotak-general-insurances-70-stake-upfront-in-us671m-amended-deal/ Mon, 26 Feb 2024 04:23:16 +0000 https://insuranceasianews.com/?p=147143 The Swiss carrier had originally announced a staggered purchase – a 51% stake in the Indian insurer first and an additional 19% within three years.

The post Zurich to buy Kotak General Insurance’s 70% stake upfront in US$671m amended deal appeared first on InsuranceAsia News.

]]>

Zurich will buy a 70% stake in Kotak Mahindra General Insurance for INR55.60 billion (about US$671 million) upfront in a single transaction instead of a staggered purchased as announced in November la...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Zurich to buy Kotak General Insurance’s 70% stake upfront in US$671m amended deal appeared first on InsuranceAsia News.

]]> Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery https://insuranceasianews.com/zurich-asia-property-casualty-fy2023-gwp-up-11-on-travel-business-recovery/ Fri, 23 Feb 2024 04:27:39 +0000 https://insuranceasianews.com/?p=146970 Asia Pacific's operating profit rose 18% primarily due to growth in life business, while higher commission rate linked to its travel business sales weighed on P&C combined ratio.

The post Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery appeared first on InsuranceAsia News.

]]>

Zurich Insurance said recovering sales from its travel business has bolstered its Asia’s property & casualty gross written premium (GWP) for the full year ended December 2023 by 11% from a year ag...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery appeared first on InsuranceAsia News.

]]> Indian competition regulator approves Zurich’s acquisition of Kotak Mahindra General Insurance https://insuranceasianews.com/indian-competition-regulator-approves-zurichs-acquisition-of-kotak-mahindra-general-insurance/ Wed, 07 Feb 2024 02:50:33 +0000 https://insuranceasianews.com/?p=145787 The watchdog has approved the 51% stake buy announced in Nomber last year as well as the global carrier's proposal to acquire an additional 19% within three years of deal completion.

The post Indian competition regulator approves Zurich’s acquisition of Kotak Mahindra General Insurance appeared first on InsuranceAsia News.

]]>

The Competition Commission of India (CCI) has approved Zurich’s acquisition of India's carrier Kotak Mahindra General Insurance Company.
The global insurer had announced the acquisition of a 51% stake...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Indian competition regulator approves Zurich’s acquisition of Kotak Mahindra General Insurance appeared first on InsuranceAsia News.

]]> Chubb joins Zurich in race to acquire stake in Indian carrier Kotak: report https://insuranceasianews.com/chubb-in-talks-to-acquire-a-49-stake-in-indias-general-insurer-kotak/ Tue, 25 Jul 2023 10:08:10 +0000 https://insuranceasianews.com/?p=130273 Both insurers are in the fray for a 49-51% stake in the general insurer that is being valued under US$800m.

The post Chubb joins Zurich in race to acquire stake in Indian carrier Kotak: report appeared first on InsuranceAsia News.

]]>

Chubb is in talks to acquire a 49% stake in Indian insurer Kotak General Insurance in a deal that values the insurer at less than US$800 million, a Reuters report said.
This follows a report last mon...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Chubb joins Zurich in race to acquire stake in Indian carrier Kotak: report appeared first on InsuranceAsia News.

]]> Zurich eyes US$400m stake in India’s Kotak General Insurance: report https://insuranceasianews.com/zurich-eyes-us400m-stake-in-indias-kotak-report/ Wed, 14 Jun 2023 10:08:59 +0000 https://insuranceasianews.com/?p=127480 The Swiss insurer has expressed interest in a 49% or 51% stake in the Kotak Mahindra Bank-owned general insurer, according to Reuters.

The post Zurich eyes US$400m stake in India’s Kotak General Insurance: report appeared first on InsuranceAsia News.

]]>

Zurich Insurance Group is in talks to buy up to 51% of India's Kotak General Insurance, according to a Reuters report citing sources.
The initial talks value the Indian company at around US$800 millio...

To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription.

Your company may already have a corporate license in place.

Enquire Now

OR

Take a Free Trial

Already a Subscriber? Please Login

The post Zurich eyes US$400m stake in India’s Kotak General Insurance: report appeared first on InsuranceAsia News.

]]>