Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL). is one of the leading private sector life insurance companies in India. ABSLI was incorporated on August 4, 2000, and commenced operations on January 17, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada.
Formerly known as Birla Sun Life Insurance Company Limited, ABSLI is one of India's leading life insurance companies offering a range of products across the customer's life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans ("ULIPs").
As of June 2017, total AUM of ABSLI stood at Rs. 351,804 million. (Source: Life Insurance Council). ABSLI recorded a gross premium income of Rs. 5,724 Crore in FY 2016-17 and registering a y-o-y growth of 35% in First Year Premium and posted a net profit of Rs. 123 Crore. ABSLI has a nation-wide distribution presence through 433 branches, 6 bancassurance partners, 7 distribution channels, over 80,000 direct selling agents, other Corporate Agents and Brokers and through its website. The company has over 8,000 employees and more than 16 lac active customers.
The Company offers a complete range of protection solutions to help secure your family's future and provide financial support for your child's education, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions to help you stay financially secure in the future with small disciplined savings at regular intervals. ABSLI puts people's need first and aims to protect what is dear to the customer, with assurance. While, Life Insurance cannot prevent risk, it can definitely compensate financial losses arising from risk.
ABCL, the holding company, is a Universal Financial Solutions provider and one of the largest financial services players in India. It is committed to serving the end-to-end financial needs of its retail and corporate customers under a unified brand - Aditya Birla Capital. Delivering a wide range of money solutions for protecting, investing and financing, Aditya Birla Capital serves millions of customers across the country.
Apart from life insurance, ABCL has a significant presence across several business sectors including NBFC, asset management, health insurance, housing finance, private equity, general insurance broking, wealth management, broking, online personal finance management and pension fund management.
Aditya Birla Capital, through its subsidiaries and joint ventures, manages aggregate assets worth Rs. 2,613 billion and has a lending book of Rs. 411 billion as of June 30th, 2017.