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( As on 24/08/2012 16:32) Birla Sun Life Insurance records 32% decline in premium collection in June 2012

Birla Sun Life Insurance has registered a decline of 32 per cent in premium collection to Rs 109.28 crore in June 2012 against 161.51 crore in June 2011, after rising continuously during March, April and May.

The insurance company’s premium collection during the period April- June 2012 fell by 2 per cent to Rs 317.89 crore against Rs 323.14 crore during the period April- June 2011.

The number of policies that were issued by the company declined by 31 per cent to 50,295 while number of life covered fell by 56 per cent to 37,462 during June 2012.

The company has sold 1.29 lakh policies during April-June 2012, down by 9 per cent against last year and has covered 3.22 lakh lives, up by 31 per cent against the same period last year.

Birla Sun Life Insurance established in 2000, is a private life insurance company.

It is joint venture between the Aditya Birla Group which is one of India’s leading business conglomerate and which holds 74 per cent stake and Sun Life Financial Inc, global financial service provider based in Canada which has 26 per cent of equity in the joint venture.