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Kotak Mahindra Old Mutual Life Insurance Limited is a private Life Insurance company in India. The company is jointly owned by Kotak Mahindra group of India and Old Mutual of South Africa in 74:26 ratio respectively. The company was founded in 2001. The company currently caters to 15 million customers. The company has presence of 232 branches in around 167 cities and towns in India and has an agency strength of 99,275 agents.

Under the umbrella, the company offers various protection plans, savings and investment plans, child plans and retirement plans.

Old Mutual

Old Mutual is an international long-term savings, protection and investment group. The company is based out of South Africa and was established in 1845. The company owns 26%-owned joint venture in India with Kotak Mahindra Bank providing life insurance, retirement pensions, savings and investments.

Corporate History

The Kotak Mahindra Group was founded in 1985 as a provider of financial services. 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 Ltd, the parent company of Kotak Life Insurance.

Products & Services

Kotak Life Insurance's products include rural plans, term plans, savings, children, retirement and investment plans. The company currently has 32 products including 9 group products, 10 ULIPs & 18 rider options (as on 4 July 2016). Customer Care: 18002098800


As of March 2016, market share of Kotak life insurance increased by 1.6%.The company garnered a total premium of Rs. 3,972 crore. The company has net worth of Rs. 1,521 crores and assets under management of Rs. 16,936 crore as on March 31, 2016.
Life Insurance Download Financial Statements

Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) gave the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.

It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, general insurance, life insurance, and wealth management.

Kotak Mahindra Bank has a network of 1,369 branches across 689 locations and 2,163 ATMs in the country (as of 31 March 2017). In 2016, it was the fourth largest private bank in India by market capitalization.


In 1985 Uday Kotak established what became an Indian financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (Kmb)ltd.

In a study by Brand Finance Banking 500, published in February 2014 by Banker magazine (from The Financial Times stable), KMBL was ranked 245th among the world's top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+.

Merger with ING Vysya Bank

In 2014, Kotak Bank acquired ING Vysya Bank in a deal valued at ₹15,000 crore (US$2.3 billion). With the merger, total employment jumped to almost 40,000, and the count of branches reached 1261. After the merger, ING Group, which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.

External links

Kotak Bank

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Traded as

BSE: 500247


1985 (as Kotak Mahindra Finance Ltd)


Mumbai, India

Key people

Uday Kotak (founder & Executive Vice Chairman & MD)
Dipak Gupta (Joint MD)
Jaimin Bhatt (President & Group CFO)
Shanti Ekambaram (President - Consumer Banking)
KVS Manian (President - Corporate, Investment & Institutional Banking)
Mohan Shenoi (Chief Operating Officer)
Gaurang Shah (President - Asset Management, Insurance and International Business)
D Kannan (Group Head - Commercial Banking)
Arvind Kathpalia (President & Group Chief Risk Officer)


Deposit accounts, loans, investment services


₹27,974.52 crore (US$4.4 billion) (2016)

Net income

₹3,431.12 crore (US$530 million) (2016)

Total assets

US$15.8 billion (2015)

Number of employees

46,500+ (2016)

            Bank Details


Payable to: B. JEEVA

Bank & Branch Address

ICICI Bank : K.K nagar branch, Chennai, Tamil Nadu, 600078

Acc No: 007701522462

NEFT / IFSC Code : ICIC0000077

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