Kotak Life Insurance appoints Sunil Sharma as 'Appointed Actuary'

Kotak Mahindra Old Mutual Life Insurance (Kotak Life Insurance) today announced the appointment of Mr. Sunil Sharma as ‘Appointed Actuary’. The appointment is effective from July 1, 2012.

Mr. Sharma has more than 21 years of experience in Life Insurance and Reinsurance practice areas in India, USA, UK and South East Asia, having worked with companies such as Swiss Re, GE Financial Assurance and leading life insurers in India.

Mr. Sharma is a qualified Actuary and a Fellow of Institute of Actuaries, UK (FIA) and Institute of Actuaries of India (FIAI). He is Chairperson of Advisory group on Communication of Institute of Actuaries of India (IAI) and member of Advisory Group on Peer, Stakeholder & International Relations of IAI. He is also the editor of the Actuary India Magazine.

About Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak Mahindra Bank Ltd., its affiliates and Old Mutual plc. A Company that combines its international strengths and local advantages to offer its customers a wide range of innovative life insurance products, helping them take important financial decisions at every stage in life and stay financially independent. The company covers over 4 million lives and is one of the fastest growing insurance companies in India.

About Kotak Mahindra Group
Established in 1985, the Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to become a bank – Kotak Mahindra Bank Limited. The Kotak Mahindra Group has a consolidated net worth of Rs 12,901 crore (approx US$ 2.5 billion) as on March 31, 2012. The Group offers a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, mutual funds, life insurance and investment banking, the Group caters to the diverse financial needs of individuals and the corporate sector. The Group has a wide distribution network through branches and franchisees across India, and international offices in London, New York, California, Dubai, Abu Dhabi, Bahrain, Mauritius and Singapore.  For more information, please visit the company’s website at http://www.kotak.com

About Old Mutual
Old Mutual is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 12 million customers in Europe, the Americas, Africa and Asia. Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999. In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £267 billion of funds under management from core operations. For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com