Kotak Mahindra Bank has sealed a deal with Zurich Insurance, where Zurich will invest Rs 4,051 crore to acquire a 51% stake in subsidiary Kotak General Insurance. This agreement involves a combination of fresh capital infusion and share purchase, with the potential for Zurich to acquire an additional 19% stake within three years of the initial investment.
Zurich Insurance is set to invest approximately Rs 4,051 crore for a 51% stake in Kotak General Insurance, in an agreement involving fresh capital and share purchase. Zurich also has the option to acquire an additional 19% stake within three years.
The Kerala High Court recently recorded its appreciation for a financier, M/S Sundaram Finance, for transferring the entire amount received by it in insurance against a financed vehicle that was.