Kotak Life Insurance Visakhapatnam Branch inaugurated
Company ranks seventh largest insurance company in India

Visakhapatnam, March 10, 2008

Company ranks seventh largest insurance company in India

Kotak Mahindra Old Mutual Life Insurance Limited on Monday announced its formal launch of the city branch at Aseelmetta. Speaking to media after inaugurating the branch, 119th in the country, senior vice president alternate channel, Kotak Life Insurance, Mayur Ankolekar said that the company had already had three branches in Hyderabad and one in Vijayawada. Visakhapatnam is the fifth branch in the State.

Mayur said plans are on the way to open three more branches in Warangal, Nellore and Kurnool. The Visakhapatnam branch will cater to Rajahmundry, Vizianagaram, Srikakulam, Kakinada, Tuni, Anakapalli, Ramachandrapuram and Amalapuram. He said that the move was part of the company's strategy to set up a robust multi point distribution network to cater to the mass market in the country.

Mayur added that the company's premium was extremely competitive and in some cases like one in some cases like the one for non smoker men and women, it was 30 percent cheaper. It had achieved a Rs.1,750 crore premium of which Rs.1,000 crores formed new business premium. Its new business premium collection for the period from April to December 2007 was Rs.558.8 crores with a growth rate of seventy percent and was ranked seventh in the country.

Andhra Pradesh News

Andhra Pradesh Discussions

Join our discussions on hottest topics on Andhra Pradesh

Catch up more discussions at AndhraNews.com

Kotak Life Insurance Visakhapatnam Branch inaugurated
Company ranks seventh largest insurance company in India

Visakhapatnam, March 10, 2008

Company ranks seventh largest insurance company in India

Kotak Mahindra Old Mutual Life Insurance Limited on Monday announced its formal launch of the city branch at Aseelmetta. Speaking to media after inaugurating the branch, 119th in the country, senior vice president alternate channel, Kotak Life Insurance, Mayur Ankolekar said that the company had already had three branches in Hyderabad and one in Vijayawada. Visakhapatnam is the fifth branch in the State.

Mayur said plans are on the way to open three more branches in Warangal, Nellore and Kurnool. The Visakhapatnam branch will cater to Rajahmundry, Vizianagaram, Srikakulam, Kakinada, Tuni, Anakapalli, Ramachandrapuram and Amalapuram. He said that the move was part of the company's strategy to set up a robust multi point distribution network to cater to the mass market in the country.

Mayur added that the company's premium was extremely competitive and in some cases like one in some cases like the one for non smoker men and women, it was 30 percent cheaper. It had achieved a Rs.1,750 crore premium of which Rs.1,000 crores formed new business premium. Its new business premium collection for the period from April to December 2007 was Rs.558.8 crores with a growth rate of seventy percent and was ranked seventh in the country.

Andhra Pradesh News

Andhra Pradesh Discussions

Join our discussions on hottest topics on Andhra Pradesh

Catch up more discussions at AndhraNews.com