Chubb in talks to acquire Kotak General Insurance

Chubb has entered into exclusive negotiations to acquire a 49% stake in Kotak General Insurance, the non-life insurance subsidiary of Kotak Mahindra Bank. It is the second candidate after Zurich Insurance to express interest in acquiring a stake in the Indian insurer.

According to sources familiar with the matter, Chubb would have an advantage over Zurich Insurance since it is willing to hand over the company's control to the Indian bank, in addition to the common business the two companies share among which motor insurance.