Kotak Life’s premium income up 62%

Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) announced a growth of 62 per cent in the first year premium (FYP) income for the individual business collected during April-December 2008. The adjusted premium equivalent (APE), a standard measure in the industry that takes single premium income at 10 per cent, has grown from Rs 486 crore during April-December 2007 to Rs 788 crore during the first nine months of the current financial year, the company said.