Kotak Mahindra Bank to fully own non-life insurance company
Kotak General Insurance will be the 29th non-life company in the country. The last non-life insurer to get permission from the regulator was Cigna TTK — a health insurance company. The last company to set up a full-fledged general insurance business was Liberty Videocon General Insurance. The general insurance business in India is currently a Rs 77,000-crore premium per annum industry and is growing at a healthy rate of 17%. It provides a cover of close to Rs 1,000 lakh crore
Kotak already has a life insurance company called Kotak Mahindra Old Mutual Life Insurance Ltd, in association with South Africa-based Old Mutual Public Ltd Co.
List of Insurance Companies in India