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Birla Sun Life insurance hikes capital to Rs 250 crore
Mumbai, Jan 19: As part of its growth strategy, Birla Sun Life Insurance (BSLI) has hiked its paid-up capital by Rs 20 crore to Rs 250 crore.
The joint venture partners, Aditya Birla Group and Sun
Life Financial Inc, have contributed the additional amount of
Rs 20 crore, BSLI said in a release here today.
BSLI chief executive officer Nani Javeri said the capital
infusion would be used to expand infrastructure and support
increase in business volumes.
The company has a network of 33 branches in 27 cities,
more than 60 corporate agents and bancassurance tie-ups with
leading banks like Citibank, Deustche Bank, IDBI Bank, Karur
Vysya Bank, Catholic Syrian Bank, Development Credit Bank,
Bank of Rajasthan and Bank of Muscat.
The insurance venture plans to further strengthen its
multi-channel distribution network in the coming months.
Bureau Report