Birla Sun Life Insurance's AUM crosses Rs 2,500 cr

Mumbai, Aug 31 (UNI) Birla Sun Life Insurance, one of the pioneers of Unit Linked Insurance plans in India, have crossed an Asset Under Management (AUM) of Rs 2,500 crore.

A BSLI's release issued here today said that the corresponding figure for last year was Rs 1,350 crore showing an exceptional growth of 85 per cent. The AUM for Individual Life has exceeded Rs 2,000 crore, for Group has exceeded Rs 410 crore and the Retirement Plans have exceeded the Rs 100 crore mark.

Commenting on the Performance, Vikram Kotak, Head-Investments, Birla Sun Life Insurance said, ''We expect AUM to grow at a robust pace as India's Life Insurance market is still under penetrated and with increased awareness about life insurance, better product offering, improving disposable income, we believe strong growth in AUM (Asset Under Management) to continue in coming years.'' Recently, company infused an additional capital of Rs 30 crore into its capital base enhancing the capital to Rs 520 crore. The expansion was done to strengthen the company's distribution network and to invest in technology infrastructure.

The company has covered in excess of 1.2 million Lives since inception and the total Sum Assured exceeds Rs 29,000 crore as August 28, 2006, the release added.

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