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| Birla Sun Life Insurance strong in Q3 – records New Business Premium growth of 168%. |
Mumbai, February 13, 2008:
– Birla Sun Life Insurance Company Ltd.(BSLI), the pioneer of Unit
Linked Life Insurance plans amongst the private life insurers in India,
has registered strong growth amongst the private life insurers, as per
third quarter reports of the Company for fiscal 2007-08.
The
company’s Individual Life business has recorded a growth of 141% in New
Business Premium (NBP) for YTD December ’07, as compared to same period
last year. Its NBP growth for the quarter ended December ’07 is 168%
over Q3 of 2006. Birla Sun Life Insurance commands 6.13% of the total
business amongst private players, for the month of December 2007.
The promoters of BSLI have infused capital to the tune of Rs.100 crores, thereby taking its total capital to Rs.1100 crores.
“Various factors have led to this surging performance”, says Mr.Vikram Mehmi, President & CEO, BSLI, “Q3
has seen the launch of 3 new plans and a new equity fund by BSLI.
Growth in NBP, rapid branch expansion and good fund performance have
paved the way for BSLI’s excellent results. As on YTD December 2007,
our total NBP stands at Rs.1079 crores. The fresh capital infusion of
Rs.100 crores will be utilized to meet the expansion and technology
infrastructure required to support this robust growth.”
The
AUM for Birla Sun Life Insurance is in excess of Rs.6200 crores as on
31st January 2008. BSLI’s premium persistency ratio is 97.7%. Its
Outstanding Claims Ratio is 0.41%. BSLI has a pan-India branch presence
of 340 branches with over 86000 advisors nationally, out of which over
500 advisors are members of the prestigious Million Dollar Round Table
(MDRT). BSLI has insured over 2 million lives since inception,
comprising over 1.5 million through its individual business and the
rest through its Group business.
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| 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 6 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 2 million lives since inception and its
customer base is spread across more than 1500 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.
Additional information is available at www.birlasunlife.com |
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| About Aditya Birla Group |
The
Aditya Birla Group is a US $24 billion conglomerate with a market
capitalization of US $31.5 billion (as on 31st December 2007) and is
one of the largest business houses in India. It enjoys a leadership
position in all the sectors in which it operates. It is anchored
by a force of 100,000 employees, belonging to 25 nationalities. Its
operations span 20 countries across six continents and is reckoned as
India's first multinational corporation. Headquartered in Mumbai,
India, over 50 per cent of the Group’s revenues flow from its overseas
operations. The Group nurtures a work culture where success is built on
learning and innovation.
The Aditya
Birla Group was recently been adjudged “The Best Employer in India and
among the top 20 in Asia” by the Hewitt, Economic Times and Wall Street
Journal Study 2007.
Additional information is available at www.adityabirla.com |
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| 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, 2007, the Sun Life Financial group of companies had total
assets under management of US$386.82 billion. Sun Life Financial Inc.
trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock
exchanges under ticker symbol "SLF".
Additional information can be found at www.sunlife.com |
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For further information kindly contact:
Ms. Anjana Grewal,
Sr. Vice President - Marketing & Communication,
Birla Sun Life Insurance Company Limited, Ph: 022-6678 3333.
E-mail: anjana@birlasunlife.com |
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