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Mumbai, Dec. 9

Birla Sun Life Insurance has hiked its capital base by Rs 123 crore to a total of Rs 1,000 crore. “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 Insurance Regulatory and Development Authority,” said a press release. The infusion is in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial Inc, r espectively.

“The additional capital will be used to strengthen the infrastructure of BSLI,” said a press release quoting Mr Vikram Mehmi, President and CEO.

— Our Bureau

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