Kotak Life Insurance has introduced a new unit-linked insurance plan (ULIP) ‘Kotak Invest Maxima’ with zero premium allocation charge.

Kotak Invest Maxima offers to maximize investments with maximum premium allocation along with a life cover. It is a flexible plan, allowing customers to choose their desired payment option – single premium, limited premium or regular premium. Minimum annual premium starts at Rs 50,000 for regular pay, Rs 75,000 for limited pay, Rs 1 lakh for single pay....  Read More »

New business premium of life insurance companies have collectively declined by 2.5% for the month of July 2011 as compared to that in July 2010.
 

Out of the 23 life insurance companies in India, only 7 of them have shown a positive growth. These companies are Life Insurance Corporation of India (LIC), SBI Life Insurance, Max New York Insurance, Aviva Life Insurance, Kotak Life Insurance, Met Life Insurance and ING Vysya Life.

Aviva Life Insurance has taken the highest jump of 94% by...  Read More »

Insurance awareness among Indian consumers is on the rise and insurance companies are leaving no stone unturned to gain an edge over their competitors by launching innovative plans. A lot of insurance companies are breaking out of the old vanilla plans to introduce insurance products to cater to different customer needs.

Life insurance policies contribute close to 4.4% of the total insurance penetration of 5.1% in India. This clearly indicates that customers are more inclined towards buying...  Read More »

Kotak Mahindra Old Mutual Life Insurance Ltd has appointed Mr. G Murlidhar as the new Managing Director.

The new MD is one of the founder members of Kotak Life Insurance. Prior to this appointment, he has was serving as the Chief Operating Officer of Kotak Life. He holds a CA, ICWA and CS degrees and possesses 26 years of work experience. He has worked with companies like MDS Switchgear, NDDB and Nicholas Piramal. He moved on to an assignment with Ion Exchange Ltd where he assumed varying...  Read More »

At a time when most life insurance companies struggled, Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life Insurance) has managed to report a 42% growth in its profits. The company’s profit after tax (PAT) for 2010-2011 stands at Rs 101 crores up from Rs 71 crores in the previous year.

This is the 3rd consecutive year that Kotak Life Insurance has declared profits. The company’s Managing Director, Pankaj Desai, has attributed this success to its strong sales force coupled with...  Read More »