Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life Insurance) announced a premium income of Rs 49.55 crore for the first-half of fiscal year 2004-05. Kotak Life Insurance is aiming at a 140 per cent growth in its premium income to Rs 300 crore for fiscal year 2004-05 as compared with Rs 125 crore in fiscal 2003-04. | |
| The company garnered a sum assured of Rs 2,911.86 crore in the first half. It is targeting a sum assured of Rs 6,000 crore in the current fiscal year. It had posted a sum assured of Rs 3,584 crore in 2003-04. |
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| Kotak Life Insurance is currently present in 31 cities with 7,000 life advisors and an employee strength of 1,000. |
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| Shivaji Dam, managing director, Kotak Life Insurance, said: "We want to achieve our growth targets by continuing to develop products that are unbundled, transparent and offer value to customers through a segmented approach. We are also investing heavily in training life advisors since we want them to provide appropriate advices to the clients." |
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| The company has established 38 training centres across the country. |
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| Kotak Life Insurance is applying Old Mutual's agency distribution model in India. Through this model, the company enables its sales force to provide high quality expert advice to customers in their financial decisions. |
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