Zurich Insurance Group has revealed employment intentions to increase employment in India by forty percent

Zurich Insurance Group plans to expand its Indian workforce by 40%, adding 600 employees over three years following its acquisition of Kotak General Insurance. The move reflects Zurich's confidence in India's economic potential and growing insurance market.

The Zurich Insurance Group AG has recently bought 70 percent of Kotak General Insurance Company and has stated that it will add forty percent more employees in India in the next three years. Its hiring targets include 600 new employees, which will add more people to its workforce in India, where the firm already has 1,500 employees.

Tulsi Naidu Zurich Insurance Asia Pacific CEO stated that India is now a very important and very attractive market. He said that knowing the fact that India is expected to be the third largest economy in the world, having a huge working age population and high insurance growth potential this move is very strategic.

New business opportunities which the company ventures into are commercial, SME, assurance, auto and general insurance. Naidu also mentioned potential for development of insurance in the market, where general insurance density is very low and constitutes only a quarter of the international level.

Last week, the Switzerland based Zurich Insurance Company completed its $ 666 million acquisition of a controlling stake in Kotak General Insurance, which is the first time the country has entered the nation after the government removed investment caps in 2021.

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This expansion plan clearly indicates that Zurich Insurance is very much committed to the market of India and the company has realized the significance of Indian economy in the insurance sector of the world.