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Aditya Birla Sun Life Insurance Company Limited (ABSLI), is a subsidiary of Aditya Birla Capital Ltd (ABCL). ABSLI was incorporated on August 4th, 2000 and commenced operations on January 17th, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada. Formerly known as Birla Sun Life Insurance Company Limited, ABSLI is one of India's leading life insurance companies offering a range of products across the customer's life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans ("ULIPs"). As of 30 June 2019, total AUM of ABSLI stood at Rs. 410,110 million. ABSLI recorded a gross premium income of Rs. 12,607 million in Q1 FY 2019-20 and registering a y-o-y growth of 30% in Individual First Year Premium and currently ranked 7th in Individual Business (Individual FYP adjusted for 10% single premium) (Source: IRDAI reported Financials). ABSLI has a nation-wide distribution presence through 425 branches, 9 bancassurance partners, 6 distribution channels, over 85,000 direct selling agents, other Corporate Agents and Brokers and through its website. The company has over 10,000 employees and more than 16 lac active customers.
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