Kotak Life Insurance expands reach in Gujarat

Ahmedabad, Aug 02 (UNI) Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), one of the fastest growing life insurance companies in India, is all set to expand its reaches in Gujarat to tap 'self generating prosperity talent of state', said Mr Uday Kotak, Executive Vice Chairman&Managing Director of Kotak Mahindra Bank here today.

Talking to reporters here today, Mr Kotak said, ''Gujarat has a strong history of self generating prosperity through trade and manufacturing. Last few years have also seen the rise of the service sector in the state.'' He was in the city to inaugurate the second branch of Kotak Bank, located at Shivranji Cross Road, Satellite.

''At Kotak Group, we bring to this community of consumers a deep understanding of their financial needs, backed by over 20 years of expertise in delivering solutions. Our insurance products will offer our customers in Gujarat solutions that range from providing protection, to fulfilling their investment needs'' He said.

He said, the Bank is planning to expand its reaches in Gujarat by opening up as mnay as 30 branches in the state by the end of this year. At present the Bank is targetting Agri-banking and real estate as its core sectors.

Talking about Kotak Life, Mr Kotak said, ''It now has 53 branches across 35 cities in the country. Life insurance is an important component of Kotak Group's product offerings. The Group continues to invest capital to build a long term scalable business.'' UNI MP GB AW1758