Kotak Life's premium income up 58%

CORPORATE SCORECARD

Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) has registered 58 per cent growth in new premium income at Rs 615 crore for the year ended March 31, 2007, compared with Rs 390 crore in 2006. In the same period, Kotak Life Insurance also saw its total received premium income jump from Rs 621.85 crore to Rs 971.51 crore.

As part of its expansion plans in Kerala, Kotak Life Insurance today commenced operations in Thrissur. This is the company's third branch in the Kerala after Kochi and Kottayam. With this new addition, Kotak Life Insurance now has 76 branches in 52 important cities across India. The company has rapidly expanded its geographical reach from 45 branches in 31 locations at the beginning of this year. The total branch count is expected to reach the 100 mark by June 2007.

As part of its aggressive growth strategy, it also plans to double its agency force from the current 20,000 by next year.