The Hindu Business Line : Birla Sun Life to infuse more capital

Birla Sun Life Insurance expects to bring in another Rs 150-200 crore of additional capital over the next two years or so in line with its growth projections.

The company, which has recently injected a fresh Rs 30 crore, is looking at a marked increase in business volumes in the coming years, necessitating regular infusion of capital. Its equity base now stands at Rs 520 crore.

Birla Sun Life Insurance, said Mr S.K. Mitra, Director, Financial Services, Aditya Birla Group, hopes to record an improvement in volumes, thanks to a mix of strategies aimed at reaching out to new customers and launching fresh products.

The company, which had expected to break even by 2006-07, is now looking at breaking even at a later date.

In August, the company has seen a total business of Rs 100 crore or so. Its assets under management (AUM) have now crossed Rs 2,600 crore (as of August 31). The corresponding figure for the previous years was nearly Rs 1,400 crore. Incidentally, the AUM for individual life has crossed Rs 2,080 crore.

Birla Sun Life Insurance, said Ms Anjana Grewal, Senior Vice-President, has a high persistency ratio of 97.4 per cent in terms of premium as on August 31. On the fund performance front, its various products (with different equity components) have delivered returns between 7.9 per cent and 30 per cent.

More Stories on : Life Insurance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bankers impose more self-checks prior to IPOs

Rupee gains marginally

IGF seeks probe into trading in UWB

New i-flex product

Maruti, Magma Leasing in pact for car financing

Birla Sun Life to infuse more capital

Insurers drop demand to cap motor cover liabilities

BoB starts Singapore operations

Bond prices surge

Government set to regulate micro financing

RBI move to curb bank lending to SEZs

182-day T-bill auction oversubscribed

Room for east-based bank in the alliance