Kotak General Insurance on Tuesday announced that it has rebranded itself as Zurich Kotak General Insurance following Zurich Insurance Group’s acquisition of a majority stake on June 18, 2024. This rebranding marks a new chapter for the insurer, symbolizing a unified commitment to trust, innovation, integrity, and excellence in customer service, it said. The company’s legal name has been updated to Zurich Kotak General Insurance Company (India) Limited.
Tulsi Naidu, CEO Asia Pacific, Zurich Insurance Group, said, “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.”
Zurich Kotak General Insurance aims to contribute to the growth of India’s insurance sector, aligning with the Insurance Regulatory and Development Authority of India’s (IRDAI) “Insurance for All” initiative, which targets comprehensive insurance coverage by 2047. By merging Zurich’s global expertise with Kotak’s local insights, the entity is set to enhance the insurance landscape in India, promoting financial security and resilience nationwide.
Suresh Agarwal, Managing Director and 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 restructured its Board of Directors. Srinivas Injeti (IAS) has been appointed Chairman, with D Sundaram and Ravi Venkataraman serving as Independent Directors. The board now includes Tulsi Naidu, Mathew Reilly, Pushan Mohapatra, Gaurang Shah, and Jaideep Hansraj.