Challenging days ahead for Birla Sun Life

05 September 2005

Birla Sun Life gears up to strengthen its markets, undaunted by its slip in industry rankings. Says CEO Nani Javeri, "The race is not going to end tomorrow and heavens will not fall if there is a slippage in the rankings for one year." By Venkatchari Jagannathan

Chennai: Makhwana Road is one of those nondescript streets in Mumbai's Andheri East. Equally nondescript is the Vaman Centre located on that street. But what is interesting is presence of the Rs921-crore (premium income) Birla Sun Life Insurance Company Limited.

Declares chief executive officer Nani B Javeri, "For us integrity and reputation are important. In the financial services industry there is a great responsibility of being in a fiduciary capacity."

The former banker – Javeri, an old ANZ Grindlays hand was instrumental in turning around the fortunes of the lacklustre Times Bank (floated by the owners of The Times of India's Bennet Coleman & Co) as its MD. After its sale to HDFC Bank, Javeri took over as general manager of the Oman International Bank in Muscat, before returning to India to steer Birla Sun Life.

Javeri is a vocal articulator of good market conduct by life insurers even at the Life Insurance Council meetings. It is not just public posturing in his case; Javeri practices what he preaches — though at considerable cost.