Zurich Insurance to boost India workforce by 40%

This is equivalent to 600 employees.

Zurich Insurance Group plans to increase its workforce in India by 40% over the next three years, adding 600 employees following its acquisition of a majority stake in Kotak Mahindra Bank’s general insurance unit, reported the Economic Times.

The Swiss firm aims to capitalise on India’s significant growth potential, highlighting it as a pivotal and attractive market for expansion. 

According to Tulsi Naidu, CEO for Asia Pacific, India is poised to become the world’s third-largest economy with the largest working-age population and a burgeoning middle class among emerging markets. 

The country also represents the strongest growth trajectory in the G20 for insurance. 

Naidu emphasised opportunities in commercial, small and medium enterprise, assurance, auto, and general insurance segments, noting a robust 40% growth in recent years. 

She underscored that general insurance penetration in India remains at a quarter of the global average, emphasising the role of digital development in enhancing insurance accessibility.