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OM Kotak's premium income up

NEW DELHI: OM Kotak Mahindra Life Insurance on Thursday announced a growth of 263 per cent in its first year premium income for the year ended March 2004 while the sum assured touched Rs. 3,584 crores. Its premium income during 2003-04 was Rs. 127 crores while during 2002-03 it was Rs. 35 crores. According to the company's Managing Director, Shivaji Dam, the number of policies sold in 2003-04 stood at 52,000 against 34,000 policies. Premium income from group business was Rs. 10 crores while single premium stood at Rs. 20 crores. OM Kotak had tied up with Swiss Life to leverage the latter's global affiliations for growing the group business, he added. — Our Staff Reporter

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