In an interaction with Narayanan V, the company's MD & CEO Mahesh Balasubramanian discusses the company's recent performance, the impact of surrender value guidelines, and its product and distribution strategy.
Why was Kotak Life's individual premium growth of 17% lower than the industry's 24% in the latest quarter? Kotak Life predominantly has a traditional book, with about 72% of our policies being traditional in nature. In contrast, the private industry has been leveraging the buoyant capital markets to drive the sale of unitlinked insurance plans (ULIPS).
Our proportion of ULIPS is among the lowest in the industry. We believe that life insurance is fundamentally about protection and long-term savings. This focus has shaped our strategy over the years. Our emphasis remains on traditional long-term products such as term life, participating and non-participating policies, and annuities, which we consider to be value-accretive for both the company and our customers.
This story is from the December 04, 2024 edition of Financial Express Mumbai.
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This story is from the December 04, 2024 edition of Financial Express Mumbai.
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