CCI Approves Zurich Insurance’s 70% Stake Acquisition in Kotak Mahindra General

  • Zurich Insurance Company Ltd. has approved a 70% stake acquisition in Kotak Mahindra General Insurance Company Limited. 
  • The acquisition involves a majority stake in Target from Kotak Mahindra Bank Limited. 
  • The Acquirer will acquire a 51% stake in Target through fresh growth capital and share purchase. 
  • The Acquirer, a subsidiary of Zurich Insurance Group Ltd., is a leading multi-line insurer serving people and businesses in over 200 countries. 
  • Target offers a wide range of general insurance policies, including liability, extended warranty, health insurance plans, and group insurance plans.
Posted in Current Affairs.