Kotak Life Insurance declares 7% bonus for 2005-06

New Delhi, June 15 (UNI) The Board of Directors of Kotak Mahindra Old Mutual Life Insurance Ltd have declared a total return of 7 per cent including a 4 per cent bonus on its participating contracts for the financial year ended March 31, 2006.

This is an increase of almost 4 per cent over the previous year figure of 6.75 per cent.

''The increase in our bonus rate is a sign of our commitment to our consumers. We believe that our consumers have made the right choice in choosing our products and we must offer them attractive and benchmarked returns,'' Kotak Life Insurance Managing Director Gaurang Shah said.

The company is continuing its segmented distribution network and has expanded its presence to across 33 cities in India with 12,500 life advisors spread over 47 branches.

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