Kotak Life Insurance declares 7 pc bonus

Bangalore, June 15: Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) today declared a total return of seven per cent, including a four per cent bonus, on its participating contracts, for the financial year ended March 2006.

This was an increase of almost four per cent over the previous year's 6.75 per cent, a company release here said.

''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,'' the release said, quoting Kotak Life Insurance Managing Director Gaurang Shah.

Kotal Life Insurance was planning to keep up the growth rate through its core strategy of stronger client relationship, focused product development and leveraging internal synergies of the Group.

UNI