| Mumbai, 27th November, 2006 |
The Board of Birla Sun Life Insurance has approved the appointment of Mr. Vikram Mehmi as the President and Chief Executive Officer of Birla Sun Life Insurance Company Ltd. He will assume the new role on December 1, 2006. He would be based at Mumbai and will report to the Board of the company. In this role, he would be responsible for providing Leadership to all functions in the company and the Heads of all Functions will report to him. Mr. Mehmi joined the Aditya Birla Group in 1999 as the CFO-Idea Cellular, and has been the CEO of Idea Cellular for the last three years. In his role as the CEO he provided very effective leadership in growing the business of the Company. He has over 30 years experience and has worked with leading companies like VSNL, NTPC and ONGC prior to joining the Group. |
| About Birla Sun Life Insurance |
Birla Sun Life Insurance Company Limited is a joint venture between The Aditya Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a leading international financial services organisation. The local knowledge of the Aditya Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable protection for your future. Birla Sun Life Insurance (BSLI) in its 5 successful years of operations has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. It was the first player in the industry to sell its policies through the Bancassurance route and through the Internet. It was the first private sector player to introduce a pure Term plan in the Indian market. This was supported by sales practices, which brought a degree of transparency that was entirely new to the market. The process of getting sales illustrations signed by customers, offering a free look period on all policies, which are now industry standards were introduced by BSLI. Being a customer centric company, BSLI has invested heavily in technology to build world class processing capabilities. BSLI has covered more than a million lives since inception and its customer base is spread across more than 1000 towns and cities in India. All this has assisted the company in cementing its place amongst the leaders in the industry in terms of new business premium income. The company’s current capital base is Rs. 520 crores. Additional information is available at www.adityabirla.com |
| About Aditya Birla Group |
The Aditya Birla Group has a turnover close to Rs. 38000 crores (as on March 31st , 2006) and is one of the largest business houses in India. It enjoys a leadership position in all the sectors in which it operates. With over 75 business units, spanning the South East Asian belt, Africa, Canada and the UK among others, it is reckoned as India's first multinational corporation. The group is anchored by 72,000 employees and has 7 lakh shareholders, with a market capitalization of Rs. 53,400 crores. Additional information is available at www.adityabirla.com |
| About Sun Life Financial Inc. |
Sun
Life Financial Inc. is a leading international financial services
organization providing a diverse range of wealth accumulation and
protection products and services to individuals and corporate
customers. Tracing its roots back to 1865, Sun Life Financial and its
partners today have operations in key markets worldwide, including
Canada, the United States, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, China and Bermuda. As of
March 31st , 2006, the Sun Life Financial group of companies had total
assets under management of USD 343 billion. Additional information can be found at www.sunlife.com |
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