Birla Sun Life Insurance's AUM crosses Rs 2500 crore

New Delhi, Sep 3 (UNI) Birla Sun Life Insurance posted 85 per cent increase in its Asset Under Management (AUM) at Rs 2,500 crore as against Rs 1,350 crore for the last year.

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.

The AUM for Individual Life funds has exceeded Rs 2,000 crore as of mid-August 2006 showing a growth of 100 per cent over the corresponding year figure of Rs 1,001 crore.

The AUM for Group funds has exceeded Rs 410 crore as of mid-August 2006 showing a growth of more than 40 per cent over the corresponding year figure of Rs 292 crore.

While the AUM for Retirement Plans has exceeded Rs 100 crore showing a growth of more than 92 per cent over the corresponding year figure of Rs 57 crore.

''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,'' Birla Sun Life Insurance Head (Investments) Vikram Kotak said.

Recently, the 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 people since inception and the total sum assured exceeds Rs 29,000 crore as for August 28, 2006.

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