Zurich Insurance Group AG that completed its $666 million purchase of a 70 per cent stake in Kotak General Insurance Company last week, has plans to increase its headcount in the country by 40 per cent. The Swiss firm plans to add 600 people in the next three years, following its acquisition. Zurich Insurance deems India a “super important, super attractive market”. Chief Executive Officer for Asia Pacific, Tulsi Naidu, said, “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,” according to a report in Bloomberg. The company’s Indian business employs 1,500 people.
