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BSLI registers 203 per cent growth

THIRUVANANTHAPURAM: The Birla Sun Life Insurance (BSLI) has registered a business growth of 203 per cent in Kerala. According to an official press note here on Sunday, the company achieved this by clocking an annualised premium of over Rs.15.32 crore (as on YTD October 2007). The company did it with the help of 5 branches spread across the State, bank tie-ups and brokers. It has a base of around 1850 advisors in Kerala. It has a representative in all key towns of the State. The note added that the promoters of the company had infused an additional capital of Rs.123 crore into the capital base of the company. This enhanced the company’s capital to Rs.1000 crore as of December 3. This has been done to meet with the company’s plans on capital expenditure to support the expansion of infrastructure and to conform to the solvency margin requirements as stipulated by the IRDA.

The additional infusion is as per the current IRDA guidelines and is in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial Inc. respectively.

For YTD October 2007, BSLI’s New Business Premium stood at Rs.746.60 crore, making a 105 per cent growth over the previous year. The AUM for Birla Sun Life Insurance has crossed Rs.6100 crore as on November 30.

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