Date:02/03/2005 URL: http://www.thehindubusinessline.com/2005/03/02/stories/2005030203150600.htm

Back Birla Sun Life to hike capital by Rs 300 cr

Our Bureau

Mumbai , March 1

BIRLA Sun Life Insurance Ltd will increase its equity capital by Rs 300 crore to Rs 650 crore. The two joint venture partners — Aditya Birla group with 74 per cent stake and Sun Life Financial Inc holding 26 per cent — will be bringing in fresh capital in proportion to their holdings.

Birla Sun Life has posted a 145 per cent growth in premium revenue at Rs 587.3 crore in the 10-month period ended January 2005.

New business premium income stood at Rs 426.1 crore in the same period.