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PRESS
RELEASE
4
April 2005
Birla
Sun Life hosts Canada's International Trade minister
The
Honourable James Peterson, Minister of International Trade,
Canada, made a stop in Mumbai to attend a reception hosted
by Birla Sun Life. Highlighting the impressive growth of Birla
Sun Life's financial services operation, Minister Peterson
said that the partnership between these Canadian and Indian
business champions exemplifies the potential of Canada-India
trade and the benefits of investment in India's dynamic market.
"We
are honoured to host Minister Peterson today," said Mr.
S.K.Mitra, Director, Financial Services, Aditya Birla Group.
Continued Mr. Mitra, "Sun Life Financial and the Aditya
Birla Group have long recognized the opportunity that exists
in India and we have formed a strong partnership that has
resulted in strong growth and an outstanding ability to meet
the needs of our growing customer base."
Mr. Donald
Stewart, CEO, Sun Life Financial Inc., who was present for
the occasion, commented: "We remain very excited by the
huge potential in the Indian markets, where Birla Sun Life
has built a solid foundation for future growth". Continued
Mr. Stewart, "There are many stories of significance
throughout our operations in India. We have made investments
in distribution, launched innovative products and enhanced
customer service."
Mr. Gary
Comerford, Vice President (International) and General Manager
for India in Sun Life Financial was also part of the delegation.
Says Mr. Comerford, "Consistent with our growth objectives
the endeavour has been to build robust distribution models.
In India we have excellent examples of global best practices
in distribution."
Birla
Sun Life companies are leaders in their respective business
segments. Birla Mutual Fund had been constituted as a trust
in December 1994. The company offers a spectrum of 20 investment
schemes including two offshore funds. The nine equity funds
and nine income schemes besides the two offshore funds are
designed to cater to every need of the investor. Birla Mutual
Fund today has emerged as one of India's leading mutual funds
with close to Rs.10,500 crore of assets under management and
an investor base in excess of 575,000 folios (as on 28 February
2005).
Birla
Sun Life Distribution Limited (BSDL) is India's premier wealth
management company and specializes in the investment advisory
business catering to different investor segments — institutions,
high net worth individuals and retail investors. As a leading
national player, BSDL provides comprehensive financial planning
services through its well-developed network of branches and
channel partners across the country. The company has a presence
in 13 locations across India and works with close to 1900
channel partners. The range of products offered includes mutual
funds, GOI Relief Bonds, Bonds of public financial institutions,
select fixed deposits, initial equity and debt public offerings
besides life insurance. The total investor base is close to
175,000 and the total assets under management has crossed
Rs. 4000 crore. BSDL ranks amongst the top five distributors
in the country and is one of the first distribution houses
to be ISO 9001:2000 certified.
Birla
Sun Life Insurance (BSLI) is a leading private sector life
insurer. Since the launch of its business in March 2001 the
company has covered in excess of 600,000 lives with the sum
assured totaling close to Rs. 21,000 crore (as on 28 February
2005). BSLI has registered an annualised premium for the first
11months (till 28 February 2005) of the current financial
year of Rs. 480 crore and the premium revenue for the period
grew to Rs.684 crore. The company has a network of 44 branches
in 33 cities with a presence through outstation agency managers
in another 54 locations. The total insurance advisor strength
of BSLI is close to 10,000. Additionally BSLI has tied up
with 107 corporate agents and Bancassurance partners for distributing
its products in over 200 locations. It was ranked in the "top
25" best places to work for among all industries in the
"Grow Talent - Great Places to Work" and "Hewitt
Best Employers" surveys. The Asian Insurance Industry
Awards 2004 ranked it amongst the top five life insurance
companies in all of Asia.
About
the Aditya Birla Group
The Aditya Birla Group has a turnover exceeding Rs. 28,000
crore (as on 31 March 2004) and is one of the largest business
houses in India. It enjoys a leadership position in all the
sectors in which it operates. With over 75 business units,
spanning the South East Asian belt, Africa, Canada and the
UK among others, it is reckoned as India's first multinational
corporation. The group is anchored by 72,000 employees and
has seven lakh shareholders, with an asset base of over Rs.23,000
crore.
Additional information is available at www.adityabirla.com
About Sun Life Financial Inc.
Sun Life Financial Inc. is a leading international financial
services organization providing a diverse range of wealth
accumulation and protection products and services to individuals
and corporate customers. Tracing its roots back to 1865, Sun
Life Financial and its partners today have operations in key
markets worldwide, including Canada, the United States, the
United Kingdom, Hong Kong, the Philippines, Japan, Indonesia,
India, China and Bermuda. As of 31 December 2004, the Sun
Life Financial group of companies had total assets under management
of USD 299 billion.
Sun Life Financial Inc. trades on the Toronto (TSX), New York
(NYSE) and Philippine (PSE) stock exchanges under ticker symbol
"SLF".
Additional information can be found at: www.sunlife.com
For further information kindly contact:
Ms. Anjana Grewal,
Vice President - Marketing & Communication,
Birla Sun Life Insurance Company Limited,
Tel: 022-5678 3333.
E-mail: anjana@birlasunlife.com
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