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September 01, 2015 6:46 PM ET

Insurance

Company Overview of Birla Sun Life Insurance Company Limited

Company Overview

Birla Sun Life Insurance Company Limited operates as a private life insurance company in India. The company provides linked and non-linked life insurance, protection solutions, children’s future solutions, health and wellness, retirement, and riders solutions; wealth with protection plans; rural solutions; and NRI solutions. It markets its products through individual agents, corporate agents, banks, brokers, and other intermediaries. The company was founded in 2000 and is headquartered in Mumbai, India. Birla Sun Life Insurance Company Limited is a subsidiary of Aditya Birla Nuvo Limited.

One Indiabulls Center, Tower I

16th Floor

Jupiter Mill Compound

841, Senapati Bapat Marg, Elphinstone Road

Mumbai,  400013

India

Founded in 2000

Key Executives for Birla Sun Life Insurance Company Limited

Chief Executive Officer, Managing Director and Director
Age: 47
Chief Financial Officer
Vice President of Humam Resources & Administration
Senior Vice President of Special Projects
Senior Vice President of Health Business
Compensation as of Fiscal Year 2015.

Birla Sun Life Insurance Company Limited Key Developments

Birla Sun Life Insurance Co. Ltd. Announces Earnings Results for the First Quarter Ended June 30, 2015

Birla Sun Life Insurance Co. Ltd. announced earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported net premium income of INR 10,880 million against INR 10,080 million a year ago. Revenue was INR 11,840 million against INR 10,680 million a year ago. Net profit was INR 340 million against INR 830 million a year ago. Return on avg. assets was 2.2% against 22.0% a year ago.

Sun Life To Raise Stake In Birla Sun Life

Sun Life Financial Inc. (TSX:SLF) is interested in raising its stake in its Birla Sun Life Insurance Company Limited, its top executive said. Sun Life has been on an acquisitive streak and has announced at least three deals so far in 2015. Dean Connor, Chief Executive Officer of Sun Life said, "We continue to turn the soil over and look at a number of opportunities. We're interested in more M&A activity if it makes sense."

Sun Life May Raise Stake In Birla Sun Life

Sun Life Financial Inc. (TSX:SLF) looks to be one of the foreign insurers that could raise its stake in Birla Sun Life Insurance Company Limited with Parliament having approved lifting the overseas investment limit for the sector to 49% from 26%. "They can increase their shareholding in our insurance venture to the permissible limit of 49% and (they) have indicated that they wanted to do it," said Aditya Birla Nuvo Limited (BSE:500303)'s Chairman Kumar Mangalam Birla. "That was the agreement we had when we started the joint venture in 2000." "We are in the process of evaluating our options and have not taken a decision yet," said Sandeep Asthana, Country Head, India, Sun Life Financial. "India is a huge market with an immense potential and we are excited to be a part of the growth of the industry both in terms of increasing market penetration but, more importantly, also by evolving it in a way that it meets the needs of customers and helps Indian families to achieve lifetime financial security."

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