Kotak Life Insurance

Kotak Life Insurance expects to incur loss of Rs 225-275 crore in first quarter

Kotak Life Insurance expects to incur loss of Rs 225-275 crore in first quarter

Kotak Life Insurance expects to incur a loss of Rs 225-275 crore in the first quarter ending June 2021 because of higher Covid-related claims and an increase in mortality related provisioning on account of the second wave. Kotak Life is a subsidiary of Kotak Mahindra Bank. The private sector bank shared an update by the life insurer on its business. It said that the second wave of the pandemic has led to an unprecedented increase in fatalities because of which there has been a rise in death claims since May. Its impact was discussed by the board of Kotak Life…
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