23 April 2009 Kotak Life Insurance

Presentation Structure Kotak Group Kotak Life Insurance Regulatory Compliance 1 2 3

Kotak Group

Journey so far… Trade Finance Ford Credit JVs Mutual Fund Stock Broking Goldman Sachs JVs IPO Investment Banking Auto Finance Life Insurance Old Mutual JV Dubai London New York BANK In October 2005, Kotak Group acquired the 40% stake in Kotak Prime held by Ford Credit International (FCI) and FCI acquired the stake in Ford Credit Kotak Mahindra (FCKM) held by Kotak Group. In May 2006, Kotak Group bought 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Kotak Securities Restructuring Ford & Goldman JVs 2006 Full-range of Financial Products One of the fastest growth of businesses in financial services Market leader in Broking, Car- Finance & Investment Banking Full-range of Financial Products One of the fastest growth of businesses in financial services Market leader in Broking, Car- Finance & Investment Banking San Francisco Singapore

Kotak Group - Growing Leaps and Bounds Data as on 31 st Mar ‘08 Total AUMs in FY 08 for the group stand at Rs. 36,500 crores; a jump of 55% over last year

Kotak Group – A Snapshot Growing Value to Stakeholders

Kotak Group – The Preferred Investment Bankers

Leadership in the Indian market Mr. Uday Kotak awarded the Indian Business Leader of the Year 2009 award Best Performing Equity Broker in India in 08 Best Domestic Investment Bank in India in 06, 07 & 08 Best Equity House in India in 08 Emerged winner in 16 categories in the Private Banking Poll 2007, including the Best Local Private Bank ‘Best Debt Fund House’ and won the ‘NDTV Business Leadership Award’ in 07

Leadership in the Indian market In the top 5 for Corporate Governance in Asia Pacific / Africa in 08 Best Banking Security Systems Project Award in 07 6 IBA Banking Technology Awards in 07 # 1 Book runner/ Lead Manager in terms of value of Indian equity offerings (PRIME Database) 2006, 2005, 2004, 2003 Customer Responsiveness Award in 06 and 07

Kotak Life Insurance

Kotak and Old Mutual – synergies at a glance  One of India’s leading financial institutions  First NBFC given banking license  Leaders in Securities, Investment Banking & Wealth Management and Auto finance  Group Networth of Rs 6,327 + crores  Fortune 500 company also part of FTSE 100  Over 165 years of Assurance History  Leading financial services company in South Africa and Sweden  Employs more than 54,000 people in over 40 countries Data as on 31 st Dec ‘08

Kotak Life Insurance – A Snapshot  Total Share Capital Rs.562 crore  Amongst the top quartile in New Business Premium / Capital Employed  Strong Pan-India presence  141 cities  197 branches  43,483 Life Advisors  90 Corporate Agents  277 Brokers  Premium Quality Player in Indian Life Insurance  AUM of Rs 3,374 + crores  Strong Product Basket  Strong Fund Performance History – Automatic allocation fund and Leaders in Capital Guarantee performance Data as on 31 st Dec ‘08

Kotak Life Insurance – Growth One of the fastest growing Insurance companies (E) Total Insurance Premium (Rs. crore) (E) Estimated figures First Year Premium Growth of 23% for Year

Kotak Life Insurance - Accolades 2008 Kotak Platinum Advantage Plan – Best Investment ULIP, type II 1 Kotak Long Life Wealth Plus – 4th Best Investment ULIP, type I 2 Kotak Aggressive Growth Fund – Second best ULIP Equity Fast Fund Kotak Platinum Advantage Plan – Best Investment ULIP, type II 1 Kotak Retirement Income Plan – Best Pension ULIP Kotak Headstart Future Protect – Second best child ULIP Kotak Dynamic Balanced Fund – Best ULIP Balanced Fund Kotak Aggressive Growth Fund – Second best ULIP Equity Fund 1 Type II ULIPs offer both Sum Assured and Fund Value as Death Benefit 2 Type I ULIPs offer higher of Sum Assured and Fund Values as Death Benefit 3 Equity Fast Funds are defined as funds having equity exposure of more than 60%

Regulatory Compliance

Adherence to Regulatory Norms Strict adherence to IRDA guidelines on Asset, Liability & Solvency Margins, 2000 Maintenance of Solvency Margins of 150% Investment mobilization as per IRDA Investment Regulation, 2001

Checks & Control Measures Sound Investment Philosophy Strict observance of credit quality of investments Investment Policy approved by Board & monitored by Investment Committee Systematic Asset Allocation Diversified Portfolio Strategy Transparency of Fund Management

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