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Hyderabad, March 12 The promoters of Birla Sun Life Insurance have infused an additional capital of Rs 124.50 crore into the capital base to meet the capital expenditure plans, expansion of infrastructure and to conform to the solvency margin requirements as stipulated by the IRDA.

With this, the total capital base of the firm would go up to Rs 1,224.50 crore (as on February 26, 2008). During 2007-08, an additional capital of over Rs 550 crore had been infused in various tranches by the company. The additional infusion is as per the IRDA guidelines and is in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial Inc respectively.

“Currently, the expansion process is on and we expect to have a branch strength of 600 by April. Our key focus areas are distribution, pan-India reach and upgradation of technology platforms,” Mr Vikram Mehmi, President & CEO, Birla Sun Life Insurance, said in a release issued here on Wednesday.

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