December 27, 2014 8:48 PM ET

Insurance

Company Overview of Birla Sun Life Insurance Company Limited

Company Overview

Birla Sun Life Insurance Company Limited operates as a private life insurance company in India. The company provides linked and non-linked life insurance, protection solutions, children’s future solutions, health and wellness, retirement, and riders solutions; wealth with protection plans; rural solutions; and NRI solutions. It markets its products through individual agents, corporate agents, banks, brokers, and other intermediaries. The company was founded in 2000 and is headquartered in Mumbai, India. Birla Sun Life Insurance Company Limited is a subsidiary of Aditya Birla Nuvo Limited.

One Indiabulls Center, Tower I

16th Floor

Jupiter Mill Compound

841, Senapati Bapat Marg, Elphinstone Road

Mumbai,  400013

India

Founded in 2000

Key Executives for Birla Sun Life Insurance Company Limited

Chief Executive Officer
Age: 46
Chief Financial Officer
Vice President of Humam Resources & Administration
Senior Vice President of Special Projects
Head of Risk
Compensation as of Fiscal Year 2014.

Birla Sun Life Insurance Company Limited Key Developments

Birla Sun Life Insurance Company Announces Earnings Results for the First Quarter Ended June 30, 2014

Birla Sun Life Insurance Company announced earnings results for the first quarter ended June 30, 2014. For the quarter, the company announced premium income (gross) was INR 10,680 million compared to INR 9,210 million for the same period a year ago. Premium income (net) was INR 10,080 million compared to INR 8,530 million for the same period a year ago. Total revenue was INR 10,680 million compared to INR 8,950 million for the same period a year ago. Earnings before tax was INR 830 million compared to INR 1,360 million for the same period a year ago. Net profit was INR 830 million compared to INR 1,360 million for the same period a year ago.

Max Life Drops Bid For Aviva Life

Max Life Insurance Company Limited has pulled out of the bid to acquire Aviva Life Insurance Company India Pvt. Ltd. A source close to the development told Financial Chronicle that the two private life insurance players, HDFC Standard Life Insurance Co., Ltd. and Birla Sun Life Insurance Company Limited, have entered a non-binding agreement with Aviva plc (LSE:AV.) a few weeks back. “We did not see value in the deal,” said a source in Max Life Insurance. According to a person close to the development, Aviva Life is looking at a valuation of INR 50 billion, while its embedded value is estimated to be around INR 18 billion. “Aviva has a good back-book and a strong franchise in the south besides a robust distribution strength comprising agency, online and corporate relationship tie-ups. But they are asking for too much,” said an official with one of the bidders. A mail sent to Aviva Life director Mohit Burman, who represents Dabur, did not elicit any response. Top officials of Aviva Life, HDFC Life and Birla Sun Life refused to comment.

Birla Sun Life Insurance Announces Earnings Results for the Fourth Quarter and for the Full Year Ended March 31, 2014

Birla Sun Life Insurance announced earnings results for the fourth quarter and for the full year ended March 31, 2014. For the quarter, the company reported revenue of INR 17,400 million against INR 16,370 million a year ago. Earnings before tax were INR 800 million against INR 890 million a year ago. Net profit was INR 800 million against INR 890 million a year ago. Premium income was INR 16,990 million against INR 15,980 million a year ago. For the year, the company reported revenue of INR 47,020 million against INR 50,370 million a year ago. Earnings before tax were INR 3,710 million against INR 5,420 million a year ago. Net profit was INR 3,710 million against INR 5,420 million a year ago. Premium income was INR 45,260 million against INR 49,030 million a year ago.

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