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Birla Sun Life infuses additional capital of Rs 30 crore

Written by: Staff
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New Delhi, June 6 (UNI) Birla Sun Life Insurance (BSLI) today announced introduction of additional capital of Rs 30 crores into its capital base, to expand the company's distribution network and confirm to the solvency margin requirements as stipulated by the Insurance Regulatory and Development Authority.

The additional infusion, which enhances the firm's capital to Rs 490 crore at the end May 2006, would be in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial respectively.

''Birla Sun Life Insurance is aiming to continuously strengthen its operations nationally, thereby increasing its penetration into smaller towns along with ensuring higher market share,'' said Birla Sun Life Insurance CFO Anil Jhala.

BSLI currently has a countrywide network of 85 branches. It's total premium was at Rs1,200 crores in the financial year 2005-06.

UNI CS MP VV1930

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