Zurich Insurance sells motor, health, travel, home and commercial insurance in India through Zurich Kotak General Insurance, its joint venture with Kotak Mahindra Bank. In 2026 it began building a global capability centre in Hyderabad for engineering, data and core business operations.
Ownership and structure
Zurich holds 70% of Zurich Kotak General Insurance and Kotak Mahindra Bank holds 30%. The insurer was known as Kotak Mahindra General Insurance until it was renamed in September 2024.
What India does for Zurich Insurance
India gives Zurich a direct position in a growing general insurance market. Zurich also calls India a key talent market, which is why it chose Hyderabad for a centre that serves the whole group.
Investment and deals
Zurich completed the purchase of a 70% stake in Kotak Mahindra General Insurance for ₹5,560 crore in June 2024. It was the first deal by a foreign insurer after India raised the insurance FDI limit from 49% to 74% in 2021. No investment figure has been disclosed for the Hyderabad centre.
Zurich Insurance’s India business
Zurich Kotak General Insurance is based in Mumbai. Zurich employed about 1,500 people in India in 2024 and planned to add 600 over three years. Amit Kalra took charge as head of Zurich Capability Centers on 1 July 2026.
Key moves in India
- 2023: Zurich agreed in November to buy 51% of Kotak Mahindra General Insurance for about ₹4,051 crore.
- 2024: The Competition Commission of India approved Zurich buying a 70% stake.
- 2024: Zurich completed the 70% acquisition for ₹5,560 crore in June.
- 2024: The insurer was renamed Zurich Kotak General Insurance in September.
- 2026: Zurich announced a global capability centre in Hyderabad in April.
Where it operates
Zurich Insurance runs its India business from Mumbai. It also has a presence in Hyderabad.
At a glance
- Home country: Switzerland
- Global headquarters: Zurich
- Sector: Banking & Financial Services
- Business: Insurance
- Role of India: Sales market, Capability centre
- India entity: Zurich Kotak General Insurance Company (India) Limited
- Listed in India: No
- India head office: Mumbai
- India offices: Mumbai, Hyderabad
- India headcount: 1,500 (2024)
- In India since: 2024
© 2026 The Narrative Republic
See every foreign company we track in our Foreign Companies in India directory.
