Birla Sun Life expands capital base

Birla Sun Life Insurance has infused additional capital of Rs 105.50 crore into its capital base. The capital base of the company stands at Rs 777 crore as of July 31. The additional capital will help expand the company’s distribution network and conform to the solvency margin requirements as stipulated by the Insurance Regulatory and Development Authority, said a release. The capital infusion was made in several tranches between April and July this year. The company plans to expand its network by September by opening additional branches in smaller towns across the country. “We are upgrading our technology platforms to support this voluminous growth,” said Mr Vikram Mehmi, President and CEO. –

Source: THE HINDU BUSINESS LINE