New Delhi, Dec 6: Birla Sun Life Insurance, a joint venture between Aditya Birla Group and Sun Life Financial Inc, today said it has infused an additional capital of Rs 123 crore into the capital base of the company.
Enchancing the capital base to Rs 1,000 crore, this has been done to meet with the company's plans on capital expenditure to support the expansion of infrastructure and to conform IRDA requirements, company statement said.
''The additional capital will be utilised to strengthen the infrastructure of BSLI. Gaining distribution depth across several states in an area of focus. Simultaneously, our technology platforms are being upgraded to support growth'' company President and CEO Vikram Mehmi said.
The additional infusion is in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial Inc respectively.