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Our Bureau

Mumbai , Nov. 2

SUN Life Financial, Canada's largest life insurer, may consider setting up a technology centre here.

Even though the company, which runs life insurance and asset management businesses in India with the Aditya Birla group, is weighing its options regarding outsourcing some services to India, it would not happen in the short term, a top Sun Life official said.

Mr Donald Stewart, CEO of Sun Life Financial, told newspersons that the company would think of using resources in India to rate policies. "We already do some technology work through some of the group companies here."

On whether Sun Life would consider buying a stake in the AV Birla group technology company, PSI Datasystems, he said that it could be a possibility.

However, that is only one of the options among others such as setting up an independent venture that could be considered. "We also need to consider the regulatory environment, both in Canada and India, before we explore the possibility."

Mr Stewart hoped that Sun Life's Indian businesses would begin contributing about five per cent of its revenues in a few years. According to him, the company is focused on developing the insurance business that is currently showing triple-digit growth rate.

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