Financial Daily from THE HINDU group of publications
Friday, Jan 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 23, 2004 |
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Money & Banking
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Life Insurance OM Kotak says unit-linked plans are doing well Our Bureau
Kolkata , Jan. 22 THE unit-linked insurance plan of OM Kotak Mahindra Insurance Company, launched in May last year, has become a major success among investors. According to Mr Subhasis Ghosh, Associate VP & Regional Head (East), the policy, called Kotak Safe Investment Plan, was already the third largest revenue earner of the company. Approximately, 20 per cent of OM Kotak's income comes from this policy. However, the largest revenue earner continues to be the endowment plan with a share of 35 per cent and is followed by the capital multiplier plan with a share of 25 per cent. "Over the years, our insurance market had developed only on two products. It is either endowment or money-back policies. Hence, it is difficult to get out of this age-old syndrome. However, new policies like unit-linked policy are fast picking up ," Mr Ghosh told reporters. He was addressing a press conference to announce OM Kotak's tie-up with Happy Insurance Corporation of India.
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