4 new ULIPs | Kotak Life

Kotak Life Insurance, private sector insurer has filled for four unit-linked insurance products (ULIPs) in its offing out of which one has already been approved by the insurance regulator, Irda. They expect to collect up to an 8 % premium from it’s on- line offerings in the next 18 months.

Kotak currently already has two ULIPs in its portfolio. Post the IRDA circular regarding new norms for ULIPs (issued and enforced from September 1), business in October was just about 50 % of the normal business due to lack of products in this category.

Their normal business is almost Rs 100 crore. Company hopes that with the increase in the number of products their business is bound to improve. Till date, the growth is close to 30 % already in new business.

By August itself the total premium collection was Rs 1,292.52 crore, of which Rs 537.72 crore was from the total new business, according the company data.

Source : www.freearticledirectory.co.uk/article26215.html

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