Birla Sun Life clocks 3-fold rise in premium

Mumbai: Birla Sun Life Insurance has clocked a three-fold increase in new business premium in the first half of this financial year.

The company has collected an annualized premium of Rs 83.5 crore with 10 per cent single premium credit, during this period, and has sold 37,000 individual life policies, which is about an 80 per cent, increase over the corresponding period in the previous year, said a release.

The insurance's average annualized premium per policy was at approximately Rs 20,000 crore.

In the first half of the current fiscal, the company sold in excess of 10,000 rural policies. Birla has expanded its reach to 33 branches in 27 cities.