OM Kotak Mahindra declares 6.5 per cent return for FY 2003-04
01 June 2004
OM Kotak mopped up Rs 124 Crore in first year premium income during the fiscal, selling policies for a total sum assured of Rs3,584 crore. The company reported over three times growth in its performance compared with the first year premium collection of Rs 35 crore last year.
Commenting on the remarkable performance of the company, Shivaji Dam, managing director, OM Kotak said, "This rate is above the current government securities rates of around 5 per cent. The excellent OM Kotak rate was achieved by good investment management and a small exposure to the equity markets over the year.
OM Kotak, in its third consecutive year of operations, has shown commendable results. The key drivers for achieving this growth have been the products, the focus on the upper and middle class target segment, the geographical mapping, distribution channels and our fund performance. At OM Kotak, we are expecting to maintain its aggressive growth rate."
its product the Kotak Safe Investment Plan (KSIP) offers
the benefits of the stock market while protecting investors
from the risks. The company has a full range of products
from pure insurance
to saving products and market-linked products, from children's
insurance to retirement solutions and also rural products.