The Swiss insurer will buy new and existing shares of the Indian insurer from its parent Kotak Mahindra Bank for ₹4,051 crore, a joint statement said. Zurich will also purchase 30% more in the insurer over the next three years.
The additional stake purchase will help Kotak Mahindra Bank comply with a regulation that mandates banks to limit their stakeholding in insurance companies below 30% or maintain it above 51%.
Esta historia es de la edición November 03, 2023 de Mint Mumbai.
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