Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) today announced the appointment of Pankaj Desai as the Managing Director of the company.
Desai succeeds Gaurang Shah, who has moved to the parent Kotak Mahindra Group as the head of its domestic and international asset management and life insurance business, a press release issued here stated.
A Chartered Accountant by profession, Desai has been a part of Kotak Mahindra Group in varying capacities for over a decade. He joined Kotak Life Insurance in 2006 in the capacity of an Executive Director.
"My focus would be to build on the strong business franchise and goodwill we have created over the last 10 years. We will work towards sustained value-creation and efficient use of capital," Desai said.He added that special emphasis would be placed on bettering customer proposition, further cost reduction and better cost management.