Kotak General Insurance has received permission to underwrite all classes of general insurance business (including health insurance).
As per industry estimates, general insurance market in India is currently at Rs 84,000 crore premium per annum and has been growing at a healthy rate of 15 percent for the last five years.
Gaurang Shah, President – Asset Management, Insurance and International Business, Kotak Mahindra Bank, said, "It is a momentous occasion for us at Kotak Mahindra Group to receive the licence on the eve of our 30th anniversary.

With the addition of general insurance business, Kotak Mahindra Group with existing presence across banking, wealth management, life insurance, broking, mutual funds and alternate asset management will be able to offer the complete range of financial products and services to retail and wholesale customers, Shah said.


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