Birla Sun Life registers strong growth in mkt share

Birla Sun Life Insurance Company Ltd., the pioneer of Unit Linked Life Insurance plans amongst the private life insurers in India, has shown strong growth in market share for the first half of the fiscal 2007, amongst the private life insurers. 

Birla Sun Life Insurance has been steadily gaining its position and has a 4.81% market share for the month of September 2007, within the industry.  BSLI’s market share as well as share of business amongst private life insurers has been increasing month-on-month.  BSLI commands 8% of the business amongst private players, for the month of September 2007. 

Mr.Vikram Mehmi, President & CEO, BSLI, attributes this strong performance to a focus on new product launches and rapid distribution expansion, and says, “We have had a series of new product launches in the current fiscal. These, coupled with robust expansion, have brought a tremendous boost to our performance.  We had plans to double our branch presence in the first half of this year and we have exceeded the target.  We now have over 300 branches nationally as of end September 2007.   

Our  product innovations have reached customers through our extensive network.  The strength of the ‘Birla Sun Life’ brand has played an important part in generating trust in newer locations where we are commencing business.  Our plans have  been  accepted favourably by our  customers.  BSLI has recorded a YTD NBP of Rs.585.30 crores as of September 2007, which is 94% growth over the same period last year.”

The AUM for Birla Sun Life Insurance has crossed Rs.5100 crores as on 30^th September 2007.  BSLI’s premium persistency ratio is 97.7%.  Its Outstanding Claims Ratio is 0.41%.  The company’s capital base is Rs.877 crores as on 26^th September, 2007.

Sourced From: Concept Public Relations India Pvt. Ltd