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Zurich Insurance eyes $400m stake in GI arm of India’s Kotak

Written by Adam Cadle
14/06/2023

Zurich Insurance is in talks to buy up to 51% of India’s Kotak General Insurance, its first major move on the South Asian insurance market.

According to sources contacted by Reuters, the stake the Swiss insurer wants to secure will be worth around $400m. Backed by Asia's richest banker Uday Kotak, the early-stage negotiations value the Indian company at around $800m.

A spokesperson for Zurich said: "As a matter of principle, we don't comment on market rumours and speculations."

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