Birla Sun Life Insurance (BSLI), the life insurance arm of Aditya Birla Financial Services Group, is looking at 13-14 percent growth in individual premium income during the current fiscal. BSLI, which has a market share of 7.7 percent among private sector life insurers in the country, had registered a total premium income of Rs 5,700 crore in the year gone by, which includes individual (Rs 700 crore), corporate (Rs 1,400 crore) and renewals (Rs 3,000 crore), among others.
Ulip had witnessed a growth of 36 percent in the last fiscal and hence Birla is looking at Ulip growth in the range of 35-40 percent during the current fiscal too.” The company has three bancassurance partners — DCB, Karur Vysya Bank and Deutsche Bank. BSLI, with a network of 70,000 agents, recorded an EBITDA of Rs 140 crore in 2015-16 from Rs 285 crore in the previous fiscal.