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Birla Sun Life Insurance gains market share and New Business Premium
achieves a high growth rate of more than 200% as of May 2008 |
Mumbai, July 9, 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
reports for the first two months of the fiscal 2008-09. As per the YTD May 2008 figures, BSLI has a market share of 7.4%, and has achieved a growth rate of 218% for its total new Annualized Premium Equivalent (APE), which is Rs. 254.6 crores.
"Birla
Sun Life Insurance continues its momentum into the new fiscal year. The
first quarter has seen a ramp up on account of our expansion in our
distribution network, resulting in higher growth rate and market share," said Mr. Vikram Mehmi, President & CEO, and Birla Sun Life Insurance.
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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 |
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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. |
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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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