Birla Sun Life Insurance wins 'Good Corporate Citizen Award' for 2009-10
22nd September, 2010
Mumbai: Birla Sun Life Insurance Company Ltd (BSLI) has won the prestigious 'Good Corporate Citizen Award' for the year 2009-10 in Mumbai under the newly introduced category of 'Banking and Financial Institutions.' 'Good Corporate Citizen Award', introduced by Bombay Chamber of Commerce and Industry in 1993, aims to recognise and honour conspicuous achievement by corporate in terms of service to the civic community, in addition to outstanding operational performance.
BSLI has bagged this accolade by undertaking a number of key initiatives that have resulted in an all inclusive stakeholder engagement. The 100 per cent Claims Settlement Ratio and setting up of a Policy Holders' Grievance Redressal Committee has given a distinct customer centric identity to BSLI amongst the peers.
While engaging into several employee welfare programs, the organisation also conducts annual staff surveys to gauge employee satisfaction and constantly revises the staff training and development modules to suit the ever changing Insurance environment.
At BSLI corporate social responsibility means managing business responsibly and sensitively, and to include social, economic and environmental factors in every decision to ensure long-term business success. The company has partnered in several community programs through the well-known 'Terry Fox Run' and 'Save the Children' initiatives in addition to in-house energy and paper conservation drives.
Commenting on the award, Mr. Jayant Dua, Managing Director, Birla Sun Life Insurance stated, "We are happy to receive this award from the Bombay Chamber of Commerce and Industry. It is recognition of our constant endeavour to give back to society, consistently better our performance and add value to our customers' needs."
About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organisations from Canada. With an experience of over a decade, BSLI has contributed to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country. Enjoying trust of over 2 million customers, BSLI is known for innovations. BSLI offers a complete range of offerings comprising protection solutions, children's future solutions, wealth with protection, health and wellness as well as retirement solutions and has an extensive distribution reach over 500 cities through its network of over 600 branches, over 1,49,000 empanelled advisors and over 600 partnerships with Corporate Agents and Banks. The AUM of Birla Sun Life Insurance is close to Rs.17,000 crores and it has a robust capital base of over Rs.2450 crores as on July 31, 2010. For more information, please visit www.birlasunlife.com
About Aditya Birla Financial Services Group (ABFSG)
Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz. life insurance, asset management, private equity, NBFC, broking insurance advisory services, wealth management and distribution.
The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with over 5.6 million customers manages assets worth US$20 billion approximately and prides itself for having a talent pool of over 16,500 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1600 branches and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of over US$1.25 bn (2009-2010), ABFSG is a significant non bank player.
ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a US$ 3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$ 29 billion Indian business house operating in 26 countries across the globe.
About Sun Life Financial
Sun Life Financial is a leading international financial services organisation providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers.
Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2010, the Sun Life Financial group of companies had total assets under management of $434 billion. For more information please visit www.sunlife.com
Sun Life Financial Inc trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.