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Mumbai, June 26

Kotak Life Insurance has increased its share capital by Rs 20 crore to Rs 317 crore.The promoters, Kotak Mahindra Bank and Old Mutual, have infused additional funds as per their shareholding in the joint venture.

"The infused capital would be used as per the prudent capital adequacy norms towards augmenting Kotak Life Insurance's business volumes and its network," the company said in a release.Kotak Life Insurance is present in 35 cities with 12,500 life advisors and 2,133 employees.

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