Birla Sun Life has managed to garner 1.78 per cent of total premium collection, second to ICICI Prudential Life with its share of 3.82 per cent.
Tata AIG Life Insurance has come up the ranks and is now in third place (1.49 per cent) among private insurers, followed by HDFC Standard Life with a market share of 1.09 per cent.
Allianz Bajaj is not far behind with a share of 1.08 per cent, followed by Max New York Life with one per cent of the market.
Birla Sun Life Insurance Company expects to close fiscal 2004 with an annual first premium income of Rs 450 crore, with the sale of 1.8 lakh policies.
Till October end, the company has clocked a premium figure of just under Rs 100 crore, but expects sales to grow by over 400 per cent in the remainder five months.
Birla Sun Life has focused on the unit-linked model, which contributes over 95 per cent of its sales.
In a press briefing Birla Sun Life CEO Nani Javeri said that with interest rates moving south, more than 60 per cent of policyholders are investing in the company
