Birla Sun targets Rs 800 cr premium

Birla Sun Life Insurance, the second largest private life insurance company in the country, which had a premium income of Rs 462 crore last year has set a target for a premium income of Rs 800 crore this year, said Nani Javeri, CEO, BSLI, here on Wednesday.

Speaking to reporters after inauguration of BSLI's first branch here, he said, "With the branch in Mangalore we are well placed to tap the potential in neighbouring Udupi, Manipal and North Kerala. While we have been represented in the city through our bank partners and corporate agents, the opening of the branch in the city bolsters our presence in the state."

This is the fourth branch of the company in the state, the others being located in Bangalore and one in Mysore. Mangalore ranks number one in Karnataka in the Market Intensity Index (MII).

The MII for Mangalore is 113.60 with Udupi coming in next at 108.78 followed by Bangalore at 108.17. The MII is an indicator of the concentration of the purchasing power in the city. The higher value of the index reflects the higher proportion of affluent houses and the quality of the market, he pointed out.

BSLI continues to show one of the fastest growths of the private life insurers on the back of its unit-linked plans.