CCI approves Zurich Insurance’s acquisition of majority stake in Kotak Mahindra General Insurance
CCI approves Zurich Insurance’s acquisition of majority stake in Kotak Mahindra General Insurance | Insurance Business Asia
Insurance News
CCI approves Zurich Insurance’s acquisition of majority stake in Kotak Mahindra General Insurance
Deal signals group’s entry into India’s general insurance sector
Insurance News
By
Roxanne Libatique
The Competition Commission of India (CCI) has given the green light to Zurich Insurance Company Ltd to acquire a 70% stake in Kotak Mahindra General Insurance Company Limited.
This acquisition involves Zurich – a wholly owned subsidiary of Zurich Insurance Group Ltd Zurich Insurance Group – purchasing a majority share in Kotak Mahindra General Insurance from Kotak Mahindra Bank Limited.
The CCI’s detailed order regarding this transaction is expected to be released shortly.
The uptick in the foreign direct investment (FDI) cap within India’s insurance sector has sparked a notable rise in international investment. According to AM Best, this development is poised to fuel market expansion by ushering in fresh capital and integrating global best practices.
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