ZURICH INSURANCE GROUP AG
Global banks are the biggest bulls in India’s bond market Foreign banks have become the largest investors in India's sovereign bond market, purchasing over $6 billion of debt since June. The optimistic outlook on India's economy, reinforced by election results and potential rate cuts, has led to increased ...
09 Jul, 2024, 08.37 AM ISTZurich Insurance set to raise India headcount by 40% in next three years “India will soon be the world’s third largest economy, the largest working age population, the biggest middle class amongst emerging markets, the strongest route of growth in the G20 for insurance,” Tulsi Naidu, chief executive officer for Asia Paci...
25 Jun, 2024, 11.20 AM ISTHave conviction in India story, want to be fully present: Zurich Insurance Group's Tulsi Naidu Zurich Insurance Group has acquired a 70% stake in Kotak General Insurance, making it the largest foreign investment in the insurance sector and the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% in 2021. The co...
24 Jun, 2024, 05.30 AM IST- ADVERTISEMENT
Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance In November last year, Zurich Insurance Company announced plans to acquire a 51 per cent stake in Kotak Mahindra General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional stake of 19 ...
05 Jun, 2024, 05.27 PM ISTCredit Suisse ceases to exist as UBS wraps up takeover "Today, Credit Suisse AG has been deregistered in the Commercial Register of the Canton of Zurich," UBS said in a statement on Friday. It "has ceased to exist as a separate entity." The merger is an important next step in the task faced by UBS to se...
01 Jun, 2024, 12.53 AM ISTBig Funds bet the ‘anything but bonds’ trade is poised to end US bond investors increase positions in long-dated high-grade corporate bonds, expecting gains from future interest rate cuts. Market attention is on upcoming bond sales and key economic data releases globally. The “anything but bonds trade” may now...
19 May, 2024, 09.18 AM ISTWhat the fresh march higher in oil means for world markets The International Monetary Fund on Tuesday described an "adverse scenario" in which an escalation of conflict in the Middle East would lead to a 15% jump in oil prices and higher shipping costs that would hike global inflation by about 0.7 percentag...
18 Apr, 2024, 10.50 AM ISTWhat the fresh march higher in oil means for world markets Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia.
18 Apr, 2024, 10.50 AM ISTZurich Insurance to buy 70% stake in Kotak arm upfront in amended deal Zurich Insurance Group will buy a 70% stake in Kotak Mahindra Bank's general insurance arm by paying 55.60 billion rupees (nearly $671 million) upfront instead of staggering the purchase as planned last year, the Indian lender said on Friday.
07 Mar, 2024, 02.26 PM ISTSteiner AG sells subsidiary Steiner Construction to Demathieu Bard for Rs 928 crore HCC in a statement said for 2022-23, Steiner Construction posted a turnover of CHF 347 million (Rs 3,076 crore) and was operating 30 projects.
19 Jan, 2024, 12.21 PM ISTZurich Insurance to acquire 70% stake in Kotak General Zurich has agreed to pay ₹4,051 crore for 51% stake including fresh growth capital of up to ₹1,609 crore. The expected date of completion for the sale is June 30, 2024, for acquisition of 51% stake by Zurich and acquisition of an additional stake of...
03 Nov, 2023, 05.47 AM ISTKotak Mahindra Bank to sell 51% stake in Kotak General Insurance to Zurich Insurance for Rs 4,051 crore Kotak Mahindra Bank has sealed a deal with Zurich Insurance, where Zurich will invest Rs 4,051 crore to acquire a 51% stake in subsidiary Kotak General Insurance. This agreement involves a combination of fresh capital infusion and share purchase, wi...
02 Nov, 2023, 09.52 AM ISTZurich Insurance to pick 51% stake in Kotak General Insurance for Rs 4,051 crore Once Zurich acquires the 51% shareholding in the insurance company, it will cease to be a subsidiary of the bank. The proposed transaction values Kotak General Insurance at approximately Rs 7,943 crore on a post money valuation, subject to customary...
02 Nov, 2023, 09.47 AM ISTSwitzerland may hold vote on plan to nationalise UBS The initiative proposes to amend the Swiss constitution to say that “large banks of systemic importance are to be managed as joint stock companies with the confederation as majority shareholder in terms of share capital,” according to the paper.
18 Sep, 2023, 12.01 AM ISTZurich Insurance eyes $400 million stake in Kotak General Insurance Zurich Insurance is reportedly in early-stage talks to acquire up to a 51% stake of Kotak General Insurance for roughly $400m, marking its first big gamble on the growing South Asian insurance market. The potential acquisition is valuing the Indian ...
14 Jun, 2023, 09.02 PM ISTZurich Insurance eyes $400 million stake in general insurance arm of Kotak General Insurance The stake the Swiss insurer wants to secure will be worth around $400 million. Kotak is still evaluating offers, including from other investors, but it prefers retaining "control of the company" after the stake sale, the first source said.
14 Jun, 2023, 03.00 PM ISTNoida Airport: Over 55,000 sq metre land allotment approved to house CISF Allotment of over 55,000 sq metre land along the Yamuna Expressway has been approved for housing the Central Industrial Security Force (CISF) personnel who will be tasked with the security of the upcoming Noida International Airport, according to an...
21 Feb, 2023, 05.12 PM ISTCost of living crisis biggest short-term risk; sustainable climate action long-term: WEF Releasing its annual Global Risks report in London ahead of its Davos summit next week, the WEF also said geopolitical rivalries and inward-looking stances will heighten economic constraints and further exacerbate both short- and long-term risks.
11 Jan, 2023, 07.47 PM ISTCost-of-living crisis biggest global risk: Davos study Global inflation remains at sky-high levels after energy and food costs rocketed last year following the invasion of agricultural powerhouse Ukraine by major oil and gas producer Russia. Supply constraints caused by the Covid pandemic have also cont...
11 Jan, 2023, 07.14 PM ISTEuropean shares rise ahead of key data, ECB minutes As of last close, the region-wide index is up 2.85% for the newly commenced quarter - compared with previous quarter's sharp selloff - due to expectations of less-severe policies by central banks amid mixed set of data from the United States and Eur...
06 Oct, 2022, 01.11 PM IST