Kotak Life Insurance
Kotak Mahindra Life Insurance Company Limited
कोटक लाइफ इन्शुरन्स
AbbreviationKLI
Formation2001 (2001)
Headquarters8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai- 400051
Location
ProductsLife insurance
OwnerKotak Mahindra Bank
Chairman
Uday Kotak
Managing Director
Mahesh Balasubramanian[1]
Parent organization
Kotak Mahindra Bank
Staff (2023)
10000+
Websitewww.kotaklife.com
Formerly called
Kotak Mahindra Old Mutual Life Insurance Limited

Kotak Mahindra Life Insurance Company Limited is a privately held life insurance company based in India.[2][3][4] It was established in 2001 and currently serves 46 million customers in 148 cities and towns across India.[5][6]

The company provides protection, retirement, savings, investment, and annuity plans.[7]

Corporate history

The Kotak Mahindra Group was founded in 1985 as a provider of financial services.[8][9] In February 2003, Kotak Mahindra Finance Ltd (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI) to conduct banking operations in the country and was renamed as Kotak Mahindra Bank, the parent company of Kotak Life Insurance.[10] The company started operations in 2001 on a joint venture between Kotak Mahindra Bank Ltd and Old Mutual Plc.[11][12][13]

In 2017, Kotak Mahindra Bank bought Old Mutual's 26 percent stake in the life insurance joint venture for Rs 1,293 crore, subject to approvals, making the life insurance company fully owned by Kotak Mahindra Group.[14][15][16][17]

Kotak Life Insurance has various plans,[18] including health insurance, as of 2020.[19] [20][21][22]

Kotak Life Insurance has implemented some CSR projects. These include free breast cancer screenings.[23]

See also

References

  1. ↑ "Mahesh Balasubramanian ascends as MD and CEO of Kotak Life".
  2. ↑ "Ministry of Defence and Kotak Mahindra Life Insurance Collaborate to Provide Job Opportunities to Veterans". currentaffairs.adda247.com. Retrieved 7 July 2023.
  3. ↑ Bureau, BW Online. "Kotak Life Announces Bonus Of Rs 840 Cr To Policyholders". BW Businessworld. Retrieved 7 July 2023.
  4. ↑ www.ETBrandEquity.com. "Kotak Life acknowledges the young conscious minds before investing with new ad - ET BrandEquity". ETBrandEquity.com. Retrieved 7 July 2023.
  5. ↑ "कोटक लाइफ इंश्योरेंस 60000 एजेंटों की नियुक्ति करेगा". Financial Express Hindi (in Hindi). 21 January 2018. Retrieved 5 July 2023.
  6. ↑ "After Hours with Mahesh Balasubramanian, MD, Kotak Mahindra Life Insurance Company". Financialexpress. 20 March 2023. Retrieved 5 July 2023.
  7. ↑ "इस कंपनी के पॉलिसी धारकों की मोटी कमाई, मिला 840 करोड़ रुपये का बोनस". cnbctv18.com (in Hindi). 31 May 2023. Retrieved 7 July 2023.
  8. ↑ "Kotak Mahindra Bank - AajTak". आज तक (in Hindi). Retrieved 5 July 2023.
  9. ↑ "life insurance companies".
  10. ↑ "Kotak Life Insurance records 42% growth in Profit in FY11". Business Standards. Business Standards. 10 May 2011. Retrieved 22 December 2016.
  11. ↑ Sinha, Shilpy (29 April 2017). "Kotak to buy out Old Mutual in insurance JV". The Economic Times. ISSN 0013-0389. Retrieved 5 July 2023.
  12. ↑ "Kotak Bank completes buyout of life insurance subsidiary". www.thehindubusinessline.com. 13 October 2017. Retrieved 5 July 2023.
  13. ↑ Laskar, Anirudh (28 April 2017). "Kotak Mahindra to buy Old Mutual's India insurance JV stake for Rs1,292 cr". mint. Retrieved 5 July 2023.
  14. ↑ "Kotak buys out Old Mutual's 26% stake for Rs 1,293 cr in insurance arm". Business Standard India. 29 April 2017. Retrieved 26 April 2021.
  15. ↑ Thakkar, Krupali (28 April 2017). "Kotak Mahindra Bank To Buy Out Old Mutual's 26% Stake In Kotak Life For Rs 1,293 Crore". BQ Prime. Retrieved 7 July 2023.
  16. ↑ "Kotak Bank to buy out Old Mutual's insurance stake for Rs 1292 crore". Moneycontrol. 28 April 2017. Retrieved 7 July 2023.
  17. ↑ PTI (28 April 2017). "KMB buys UK Old Mutual's 26% stake in insurance arm for `1,292 cr". www.millenniumpost.in. Retrieved 7 July 2023.
  18. ↑ "Kotak Mahindra Life Insurance Company Limited: Company Profile & Plans". Suger Mint. 5 March 2020. Retrieved 26 April 2021.
  19. ↑ "Kotak Health Shield: Rs 1 crore fixed benefit health plan from a life insurer". Business Today (in Hindi). 23 October 2020. Retrieved 7 July 2023.
  20. ↑ "Kotak Life launches Kotak Health Shield, forays into comprehensive health insurance segment". The Financial Express. 22 October 2020. Retrieved 26 April 2021.
  21. ↑ www.ETBrandEquity.com. "Kotak Life acknowledges the young conscious minds before investing with new ad - ET BrandEquity". ETBrandEquity.com. Retrieved 3 May 2023.
  22. ↑ Bharatvarsh, TV9 (14 February 2022). "कोटक लाइफ ने लॉन्च किया नया इंश्योरेंस प्लान, 6-15 साल तक भरें प्रीमियम, 85 साल की उम्र तक मिलेगा लाइफ कवर". TV9 Bharatvarsh (in Hindi). Retrieved 5 July 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)
  23. ↑ "Kotak Life Insurance associates with NPSS for free early breast cancer detection". Free Press Journal. Retrieved 5 July 2023.
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