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Birla Sun Life Insurance strengthens distribution expansion in East India with a Zonal Office in
Patna
Expands footprint in the eastern region by strengthening operations in Patna
Patna February 18, 2009 – Birla Sun Life Insurance, one of India’s leading life insurance
companies, further strengthened its presence in the East by opening a Zonal Office in Patna.
Birla Sun Life Insurance now has established a countrywide network of 600 branches 10
regional offices, 2 zonal offices, across 502 cities and towns in India.
Located at Birla Sunlife Insurance Co. Ltd. Zonal Office, Mona Cinema Hall, East Gandhi
Maidan,
Patna-800001,
Commenting about the company’s vision and expansion plans, Mr Chander Chellani,
Chief Distribution Officer, Birla Sun Life Insurance said, “An ever expanding presence
of Birla Sun Life Insurance offices across India reinforces our commitment to being easily
accessible to all target audiences, to be able to educate people about the true potential and
benefits of life insurance. Patna is an important market for us and opening our new Zonal
Office in the city further strengthens our reach and enables us to provide better service in the
region.
He further added “Birla Sun Life Insurance wants people to view insurance as a financial
protection and a wealth creation instrument and not just a tax-saving tool. Since the launch of
our operations in 2001, our focus has always been on providing risk protection and long term
wealth creation solutions to our customers. With a flexible product portfolio to meet
customer requirements, it is evident that we are setting benchmarks in the marketplace and
are well on course of realizing our vision to become India’s most admired Life Insurance
Company.”
Out of a total of 600 branches, the Company has 122 in the eastern region this includes
branches in Assam, Bihar, Jharkhand, Kolkata, Meghalaya, Orissa, West Bengal and the
North East. Birla Sun Life Insurance, which has till date sold over 2 million policies, has
positioned itself on the quality platform. The company has developed a strong model based
on defined core values of Integrity, Commitment, Passion, Seamlessness, and Speed. Its
strategy is to establish itself as a trusted life insurance specialist on the basis of quality of
advice. The company has over 1, 68,090 advisors, who are widely considered among the best
in the business.
India. BSLI has covered more than 2 million lives since it commenced operations. And its
customer base is spread across more than 1500 towns and cities in India. The company has a
capital base of Rs. 1849 crores as on December 31, 2008. The current AUM of Birla Sun
Life Insurance stands at Rs. 8168 crs as on December 31, 2008.
Aditya Birla Group has a strong presence across various financial services verticals that
include fund management, distribution and wealth management, security based lending,
insurance broking, private equity and life insurance.
The consolidated revenues from these businesses crossed the US 1 billion dollar mark, in
2007-08. In the first half of 2008-09, the financial services business continued its strong
momentum of growth with consolidated revenues crossing Rs. 2,077 crore for the first half,
up from Rs. 1,463.97 crore in the corresponding period, last year.
Aditya Birla Financial Services Group has taken another step towards expanding their
footprint and financial offering by entering into an agreement with the promoter family of
Apollo Sindhoori to acquire a 56% stake in the company. The acquisition will fast track their
entry into retail broking and is in keeping with its desire to be a broad based and integrated
player, while further strengthening their position as a manufacturer and distributor of value
added financial products and solutions.
invested assets as of June 30, 2008. Sun Life’s $60billion bond portfolio is highly diversified
across 1400 different borrowers around the world and is rated 97% investment grade.
Globally, Sun Life is in a solid financial position, and maintains financial strength ratings
which are amongst the highest of all insurers in North America. Sun Life has a strong
balance sheet and is well capitalized beyond minimum requirements. The Company’s
balanced business model is an important pillar of its overall risk management framework.
SLF prides itself on its prudent investment style and strong risk management controls.
For further information kindly contact: For further information kindly contact:
Ms. Dielnawaz Damania Mr. B. N. Kumar,
PR & Corporate Communication CEO
Birla Sun Life Insurance Company Limited, Concept - PR ,
Tel: 022-6678 3333. Ph: 022-40558936
E-mail: dielnawaz.damania@birlasunlife.com Cell: 93210 48332
E-mail: bnk@conceptpr.com