| On the occasion, Gaurang Shah, managing director of the company, said, "Gujarat has shown tremendous growth and development in tune with the national and global growth rate, despite missing the information technology bus. The state has well exhibited its entrepreneur commitment in areas of manufacturing, services, agriculture, investments etc and this has prompted us to chalk out our expansion plans in same line and length." |
| At present, the company has a presence in 43 cities across the nation with a network of 61 branches. |
| Of the 43 cities, Kotak Life Insurance today has a presence across 13 cities in Gujarat. It is planning to consolidate its presence in all the district headquarters and across `A?-Category taluka destinations of the state like Amreli, Surendranagar, Junagadh, Bhuj, Navsari, Gandhidham, Morvi, and Bardoli. |
| As part of its rural obligation agenda, the company is all set to explore group insurance potential and strengthen its agent force, "We worked out a scheme with Karnataka Tobacco Farmers Association (KTFA) and are trying to reach the rural masses across the state and nation," he said. |
| The company is also targeting an agent network of about 6,000 by March 2007 across Gujarat, to serve its our clients better and mark its presence across the rural destinations too. |
| India's life insurance business is being pegged at around Rs 55,000 crore for the financial year 2006-2007. Of this, Gujarat is likely to account for 8 per cent amounting to Rs 4,400 crore. |
| Life Insurance business pie of the nation splits mainly between Life Insurance Corporation of India (LIC) and 15 private players, with LIC claiming 70 per cent of the market share. The remaining is shared among the 15 private players. |
| Kotak is targeting Rs 1,000 crore business for the financial year 2006-2007. Of this, it expects Rs 700 crore from new premium collection. |
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