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Our Bureau

Mumbai , April 27

BIRLA Sun Life Insurance has recorded a 373 per cent jump in premium income at Rs 537.5 crore for the financial year ended March 31, 2004. This is inclusive of renewal premium income and an annualised new business income of Rs 478 crore.

Total sum assured by the company grew by 180 per cent over the previous year to Rs 8,915 crore, said Mr Nani Javeri, CEO, Birla Sun Life Insurance, addressing a press gathering here on Tuesday.

BSLI added 1,29,000 new individual life policies in 2003-04 as against 65,000 policies in the previous fiscal and 25,893 new rural policies against 10,500 in the previous fiscal, he said. The total number of individual lives insured since inception stood at 2,48,400 while the total group policies are 2,52,900.

The number of group lives policies rose to 1,31,000 as on March 31, 2004 as against 80,000 in the previous fiscal while the social sector policies rose to 16,651 from 12,000, in the previous fiscal.

Of its total premium income, direct sales contributed 42 per cent at Rs 201 crore, alternate channels 24 per cent at Rs 114 crore and group insurance 34 per cent at Rs 163 crore.

BSLI has 89 corporate agents and has bancassurance partners present in over 200 locations.

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