Kotak Life Insurance opens branch in Aligarh

Online, March 31, 2010 (Newswire.com) - Aligarh: Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), one of India's leading Life Insurance Companies today inaugurated its branch office in Aligarh, its first in this vibrant industrial and educational hub.

The new branch is located on the trendy and historic Marris Road. (Branch Address: First Floor, Omeshwar Plaza, Plot No.3/243, Laxmibai Marg, Marris Road, Aligarh, Uttar Pradesh-202001)

Aligarh is witnessing an economic resurgence, having recorded phenomenal growth in both traditional sectors such as manufacturing and non traditional sectors such as retail, and, Kotak Life Insurance is keen to match the growing pace of the city. The Aligarh branch offers customers a comprehensive suite of life insurance and personal financial planning solutions. In Uttar Pradesh, the company operates in 22 districts through a strong network of branches, brokers, regional distributors and bancassurance partners. The new branch will help the company cater to the needs of customers in the nearby districts such as Etah, Hathras, and Kanshi Ram Nagar. With the inauguration of this branch, Kotak Life Insurance now has 215 branches across the country.

Speaking at the occasion, Deepak Varma, Vice President - Alternate Channel, North and Central, said, "Uttar Pradesh is an extremely important market for Kotak Life and our rapid expansion here bears testimony to our commitment to customers in the region. We have several customers in Aligarh, and the new branch will help us connect with them anew and serve them better. I am confident that Kotak Life Insurance's comprehensive suite of innovative Life Insurance products, strong customer focused culture and high quality financial advice will help us meet the discerning Aligarh customers' high expectations."

About Kotak Mahindra Old Mutual Life Insurance Ltd

http://www.kotaklifeinsurance.com

Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak Mahindra Bank Ltd., its affiliates and Old Mutual plc. A Company that combines its international strengths and local advantages to offer its customers a wide range of innovative life insurance products, helping them takes important financial decisions at every stage in life and stay financially independent. The company is one of the fastest growing insurance companies in India and has shown remarkable growth since its inception in 2000. Kotak Life Insurance employs around 6, 213people in its various businesses and has 214 branches across 152 cities.

The Kotak Mahindra Group

The Kotak Mahindra Group is one of India's leading banking and financial services organizations, with offerings across personal financial services; commercial banking; corporate and investment banking and markets; stock broking; asset management and life insurance. The Kotak Group has a net worth of Rs. 7,509 cr and has a distribution network through branches, franchisees, representative offices and satellite offices across cities and towns in India and offices in London, New York, San Francisco, Singapore, Dubai and Mauritius, servicing around 6.7 million customer accounts.

Old Mutual plc

Old Mutual plc is an international savings and wealth management company based in the UK. Originating in South Africa in 1845, Old Mutual is a Global 500 and FTSE 100 Company, listed in UK, South Africa and other 3 African exchanges. The group has a balanced portfolio of businesses offering Asset Management, Life Assurance, Banking and General Insurance Services in over 40 countries, with a focus on South Africa, Europe and the United States, and a growing presence in Asia Pacific.

* Numbers as on 31st December 2009