Kotak Life has bought back its stake from Old Mutual and is no longer in a joint venture, thus making us a 100% owned subsidiary of Kotak Mahindra Bank Ltd. About Kotak Mahindra Life Insurance Company Ltd. Kotak Mahindra Life Insurance Company Ltd (Formerly known as Kotak Mahindra Old Mutual Life Insurance Ltd.) is a 100% owned subsidiary of Kotak Mahindra Bank Ltd. The company combines its international strengths and local advantages to offer its customers a wide range of innovative life insurance products thereby helping them take important financial decisions at every stage in life and stay financially independent. The company covers over 18 million lives and is one of the fastest growing insurance companies in India.