June 25, 2024
Zurich Insurance Group AG plans to increase headcount in India by 40% over the next three years, adding 600 people following its acquisition of a majority stake in Kotak Mahindra Bank Ltd.’s general insurance unit. The Swiss firm is pursuing …
June 19, 2024
Zurich Insurance Company Ltd. has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Co. Ltd. for US$670 million โ marking the largest foreign investment in India’s general insurance market. “The transaction marks the largest foreign investment …
November 30, 2023
Gujarat International Finance Tec-City, India’s newest financial hub and a flagship project of Prime Minister Narendra Modi, is preparing for its next phase of growth. The first phase followed the creation in 2020 of a new regulator, the International Financial …
November 20, 2023
For nearly a week, 40 workers have been trapped in an under-construction tunnel after a landslide demolished its entrance, derailing a major connectivity development in India’s mountainous state of Uttarakhand. Since Nov. 12, rescue teams have employed a slew of …
October 11, 2023
Indian startup InsuranceDekho has raised $60 million in Series B funding, driving the online insurance seller’s valuation to more than $650 million. Investors including Japanese giant Mitsubishi UFJ Financial Group Inc. and insurer BNP Paribas Cardif participated in the funding …
October 6, 2023
Global Insurance Brokers, a major provider of risk management, insurance, and reinsurance broking services in the Indian subcontinent, announced its acquisition by Aon plc. Financial details of the deal, which is subject to regulatory approval, were not disclosed. Aon and …
September 28, 2023
Indian authorities sent a $208 million tax demand to a private insurer, the latest in a growing list of firms slapped with similar notices as the government intensifies its crackdown on alleged evasion. ICICI Lombard General Insurance Co. Ltd. received …
August 31, 2023
Reliance Industries Ltd. is in discussions with global and domestic executive headhunters to find a leader for Jio Financial Services Ltd.’s newly created insurance business, according to people familiar with the matter. Executives from Reliance have met several firms in …
July 25, 2023
U.S. insurer Chubb is in talks to acquire a 49% stake in India’s Kotak General Insurance and has become a more favored suitor than Zurich Insurance Group, two people with direct knowledge of the discussions said. Chubb has an edge …
June 14, 2023
Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance …