Covid impact: Kotak Life Insurance arm estimates ₹275 crore loss in June quarter
- Due to increased claims and higher mortality related provisioning arising on account of the second wave, the company expects to incur a loss for the quarter ended June 2021 in the estimated range of ₹225-275 crore on shareholder's account, the company said
Kotak Mahindra Bank announced on Thursday that its life insurance arm is expected to incur a loss of up to ₹275 crore for the quarter ended June 2021. The company said, the number of claims have increased due to high fatalities during the second wave of COVID-19 pandemic.
Login to enjoy exclusive benefits!
- Unlocked premium articles
- Personalized news
- Market Watchlist
- Insightful Newsletters & more