OM Kotak first year looks bright

OM Kotak Mahindra Life Insurance Company issued 6,000 policies for a basic sum assured of Rs 80 crore and has earned a premium of Rs 5 crore during its first year of operation ending in December 2001.

"The company, through its eight branches and 900 life advisors, has sold 6,000 policies and expects to earn a premium of Rs 15 crore by March 2002," said OM Kotak Mahindra Life Insurance MD Shivaji Dam while launching three new insurance products.

Talking about competition in the insurance sector, Dam said its audience is wide and the issue is of getting the audience early enough. The new products, introduced in group insurance, are Kotak Term Group Plan, Kotak Credit Tern Group Plan and Kotak Term Assurance Plan.