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July 04, 2015 10:12 AM ET


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


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

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."

Birla Sun Life Insurance Company Announces Earnings Results for the First Quarter Ended June 30, 2014

Birla Sun Life Insurance Company announced earnings results for the first quarter ended June 30, 2014. For the quarter, the company announced premium income (gross) was INR 10,680 million compared to INR 9,210 million for the same period a year ago. Premium income (net) was INR 10,080 million compared to INR 8,530 million for the same period a year ago. Total revenue was INR 10,680 million compared to INR 8,950 million for the same period a year ago. Earnings before tax was INR 830 million compared to INR 1,360 million for the same period a year ago. Net profit was INR 830 million compared to INR 1,360 million for the same period a year ago.

Max Life Drops Bid For Aviva Life

Max Life Insurance Company Limited has pulled out of the bid to acquire Aviva Life Insurance Company India Pvt. Ltd. A source close to the development told Financial Chronicle that the two private life insurance players, HDFC Standard Life Insurance Co., Ltd. and Birla Sun Life Insurance Company Limited, have entered a non-binding agreement with Aviva plc (LSE:AV.) a few weeks back. “We did not see value in the deal,” said a source in Max Life Insurance. According to a person close to the development, Aviva Life is looking at a valuation of INR 50 billion, while its embedded value is estimated to be around INR 18 billion. “Aviva has a good back-book and a strong franchise in the south besides a robust distribution strength comprising agency, online and corporate relationship tie-ups. But they are asking for too much,” said an official with one of the bidders. A mail sent to Aviva Life director Mohit Burman, who represents Dabur, did not elicit any response. Top officials of Aviva Life, HDFC Life and Birla Sun Life refused to comment.

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