From correspondents in Delhi, India, 09:17 PM IST

Birla Sun Life Insurance Company Ltd. (BSLI), the pioneer of Unit Linked Life Insurance plans amongst the private life insurers in India, has registered strong growth amongst the private life insurers, as per reports for the Q1 of the fiscal 2008-09. As per the Q1 FY 2008-09 figures, BSLI has a market share of 8.15% amongst private life insurance players as compared to BSLI’s market share for Q1 FY 2007-08, which was 4.9%, indeed a significant leap. BSLI’s life insurance business has achieved a growth rate of 194%. The total APE (Annualized Premium Equivalent) is at Rs. 507.4crores.

“Birla Sun Life Insurance continues its momentum into the new fiscal year with an increased market share of 8.15% for Q1 FY 2008-09 (amongst private life insurance players) and a growth rate of 194%. The first quarter FY 2008-09 has seen a ramp up on account of our expansion in distribution network with 600 branches nationally as on July 2008, our innovative product suite and superior quartile fund performance, resulting in the present high growth rate and market share,” said Mr. Vikram Mehmi, President & CEO, and Birla Sun Life Insurance.

Comparative study of BSLI’s Business Performance Q1 FY 2007-08 and Q1 FY 2008-09

BSLI (Q1 FY 2007-08)

BSLI (Q1 FY 2008-09)

Market Share

4.9%

8.15%

Growth Rate (Individual + Group)

22%

194%

Annualized Premium Equivalent (APE)

Rs. 185.3

Rs. 507.4

Source: Press Release Distribution via India PRwire