Following a majority stake acquisition by Zurich Insurance Group, the new brand brings together the identities of Zurich & Kotak
FinTech BizNews Service
Mumbai, 03 September 2024: Kotak General Insurance has re-branded itself as Zurich Kotak General Insurance, following the Zurich Insurance Group’s acquisition of a majority stake in the insurer, which was completed on 18 June 2024. Reflecting the shared vision of the Zurich Kotakentity, the new brand symbolizes the collective commitment to trust, innovation, integrity, and customer excellence. The legal name of the entity changes from KotakMahindra General Insurance Company Limited to Zurich Kotak General InsuranceCompany (India) Limited.
“The rebranding to Zurich Kotak General Insurance represents a significant step in our shared journey to create a premier general insurer for the new India. This new identity is not just a change in name but a reflection of our combined strengths, values, and commitment to deliver insurance solutions tailored to the diverse needs of Indian consumers and businesses,” said Tulsi Naidu, CEO Asia Pacific, Zurich Insurance Group.
Zurich Kotak General Insurance is fully committed to fostering the development and expansion of India’s insurance sector in keeping with the Insurance Regulatory and Development Authority of India’s (IRDAI) goal of achieving “Insurance for All” by 2047. Combining Zurich’s global scale and expertise with Kotak’s deep local knowledge, the entity is poised to support the long-term development of India’s insurance landscape, fostering financial security and resilience across the country.
Suresh Agarwal, Managing Director & CEO, Zurich Kotak General Insurance said, "This is an important milestone in our journey to build a responsible, impactful, and leading general insurer as we launch the new brand in the market. We will continue to work towards enhancing insurance penetration in the country through technology, scale, and bringing global best practices to our business, keeping customers at the core of it.”The company has also reconstituted its Board of Directors, bringing together seasoned industry leaders with a strong track record in driving growth and innovation to fulfill Zurich Kotak’s vision of building a leading general insurer for the new India.
Srinivas Injeti(IAS) has been appointed as the Chairman of the Board, with D Sundaram &Ravi Venkataraman as Independent Directors. Tulsi Naidu (APAC CEO, ZurichInsurance Group), Mathew Reilly (APAC COO, Zurich Insurance Group), PushanMohapatra (former MD & CEO, SBI General Insurance), Gaurang Shah(Non-Executive Director – Insurance, Asset Management & InternationalSubsidiary, Kotak Mahindra Bank) and Jaideep Hansraj (former Managing Director, Kotak Securities Limited) have joined the board as Non-Executive Directors. Combined, the new board of directors brings a wealth of diverse expertise in global markets, risk management, and customer-focused strategies that will guide Zurich Kotak General Insurance in accelerating future growth and expansion in the market.
