This enhances the Company's capital to Rs 1,000 crore as of December 3, 2007. This has been done to meet with the company’s plans on capital expenditure to support the expansion of infrastructure and to conform to the solvency margin requirements.
The additional infusion is as per the current IRDA guidelines and is in the ratio of 74:26 between the Aditya Birla Group and Sun Life Financial Inc respectively.
“The total capital is now Rs 1000 crore after the injection of Rs 123 crore in November 2007. The additional capital will be utilised to strengthen the infrastructure of BSLI,” said Vikram Mehmi, President & CEO, Birla Sun Life Insurance.