Kotak Insurance to launch 54 more branches in India

Chennai, Aug 1 (UNI) The Kotak Mahindra Old Mutual Life Insurance Ltd will introduce its branches in 54 more cities across the country, increasing its branch network from the present 85 to 125 before the end of December this year, according to Company's MD Gaurang Shah.

Speaking to newspersons after launching their third branch here today, Mr Shah said the move was part of their strategy of setting up a robust multi-point distribution network to cater to the mass Indian market.

They have also planned to recruit over 1,500 advisors in Chennai in the current fiscal, he added.

He also pointed out that the company had posted a growth in its premium sector to Rs 205.1 crore as on June 30, 2007, from Rs 123.66 crore of the corresponding period last year.

Since inception, they were the market leader in the guaranteed fund space, he claimed.

Kotak Life Insurance Capital Guarantee feature was another ideal offer that was aimed at smart capital market investors. Products like Kotak Safe Investment plan, Kotak Flexi plan and Kotak Privilege Assurance plan were all designed on these platforms, he added.

He said the company's recently launched headstart child plans was also evoking good responce.

UNI