IDBI Federal launches insured wealth plan

§   Wealthsurance Dreambuider offers flexible, customized investment options

§   Covers 17 major diseases, hospitalization and accidental injuries

MUMBAI, August 8, 2011: Private life insurer IDBI Federal Life Insurance today announced the launch of its new ULIP called Wealthsurance® Dreambuilder Insurance Plan which will enable customers to save and build wealth under the protective cover of insurance.

Wealthsurance® combines wealth creation and insurance protection into one powerful financial solution. With a minimum premium amount of Rs 25,000 per year and maximum Rs. 1,00,000,  Wealthsurance® Dreambuilder Insurance Plan offers a wide range of insured wealth plans.

Announcing the launch of the new plan, Mr. G V Nageswara Rao, MD & CEO of IDBI Federal Life Insurance said “It is everyone’s dream to create wealth and enjoy quality life, but wealth creation does not happen by chance or accident. It needs a Plan. Wealthsurance® Dreambuilder Insurance Plan can help customers realize their dreams and enjoy the benefits during their lifetime. It is very flexible and can be customized to an individual’s needs with 13 different fund options to choose from. A key attribute of the Plan is that it can be insured not only against risk of death but against 17 major diseases, hospitalization, disability, accidental injuries etc so that you can feel confident that your financial goals can be reached despite the surprises life may throw up. To encourage long term investments, the plan boosts your funds through Guaranteed Loyalty Additions at the end of 10th policy year and every 5 years thereafter to reward customers for staying committed for the long term.”

Wealthsurance® Dreambuilder Insurance Plan offers a comprehensive suite of investment options which are designed to meet the needs of every customer depending upon his or her risk appetite. For instance, conservative customers can choose guaranteed return options which offer fixed, assured returns. Those who can take risks can opt for capital protected options where the entry NAV is guaranteed and returns depend upon the market. Customers who would like to get potential high returns of equity markets in the long-term and understand the risk can opt for market linked equity options.

IDBI Federal Wealthsurance® Dreambuilder Insurance Plan also provides a host of insurance benefits to protect the customers against uncertainties, so that they don’t have to break their investment to meet sudden financial demands and their money can keep compounding. In addition this Plan also offers partial withdrawals facility if funds are required before maturity.

The insurance benefits offered by the Plan include lump-sum cash amounts up to Rs. 20 lakhs to be paid upon diagnosis of any of 17 specified major diseases. These include heart attack, coronary bypass surgery, cancer, stroke, paralysis, coma, brain tumor, renal failure, major organ transplant etc.

“The plan offers a unique investment options called Asset Allocator Funds, where the company’s fund managers invest in equity or debt depending upon market conditions. This is a very useful option for those who do not have the time or expertise to monitor equity market and shift into debt or equity investments depending on market conditions. Moreover policyholder can boost their investments with Guaranteed Loyalty Additions which will be given at the end of specific terms as a reward for long-term investment. The Plan comes with attractive tax benefits. Premium contributions are eligible for tax deduction under Sec 80C. All benefits under the Plan are tax-free under Sec 10(10D),” Mr. Rao added

Another feature is Hospital Cash Benefit in which daily cash up to a maximum of Rs. 5000 per day will be paid for each day of hospitalisation, irrespective of the amount actually spent. The claim process is simple since no bills have to be submitted but only proof of hospitalization is enough. Other benefits include accidental death and disablement benefit and waiver of all future premiums upon death or disablement.

Columbian Chemicals into Aditya Birla Grp fold

Birla Carbon announces agreement to acquire Columbian Chemicals
The acquisition will catapult Birla Carbon to become a leading global player


MUMBAI: The Aditya Birla Group today announced that it has entered into a definitive agreement to acquire the Atlanta based Columbian Chemicals Company, from One Equity Partners, the merchant banking arm of J. P. Morgan Chase & Co.

The Aditya Birla Group has bought One Equity Partners’ equity in Columbian Chemicals through its associates, Alexandria Carbon Black Company and Thai Carbon Black Company Limited along with SKI Investment, an Aditya Birla Group Company.

Briefing the media on this significant development, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “The acquisition of Columbian Chemicals catapults Birla Carbon to become a leading player globally in this sector, by raising its annual production to 2 million tons.  We look upon the carbon black business as a core business that has a strong growth potential both in terms of revenues and earnings. This acquisition is in keeping with our objective of being a leader in every business that the Group operates in. The Aditya Birla Group’s Carbon Black business and that of Columbian Chemicals complement each other. This acquisition will create a business which will have the advantage of cutting edge technology and low costs, and will have a truly global footprint.”

 “Our vision has been to be a premium carbon black player, global in size and reach.  The acquisition of Columbian Chemicals, which takes us closer to our vision, is a perfect fit for Birla Carbon.  Their assets and the expertise of the team will provide a stronger platform for higher growth and ongoing success” averred Mr. Birla.

Dr. Santrupt Misra, CEO, Birla Carbon and Director, HR, of the Aditya Birla Group, added – “We look forward to leveraging the strengths of both Columbian Chemicals and Birla Carbon. Their world-class service coupled with that of Birla Carbon, positions us well.  Additionally, Columbian Chemicals accords us access to markets that we currently do not serve, thus enhancing our geographic reach.  Columbian Chemicals also has a very strong Research & Development team of scientists engaged in process, technology and innovative products development.  Columbian Chemicals has a rich legacy, a committed workforce and values that are in sync with our Group values”.

The Aditya Birla Group is one of the most cost efficient manufacturers of Carbon Black.  Its operations span four countries, with six manufacturing plants.  It caters to the requirements of leading tyre manufacturers globally. Columbian Chemicals operates 11 plants in 9 countries.

The acquisition is subject to customary approvals.  The deal is expected to attain closure in the second half of CY-11.

ANZ, BankAM, HSBC, RBS and StandChart are participating in the financing of the transaction and were also the financial advisors for this deal.

KPMG were our tax and accounting advisors, and Shearman & Sterling LLP, the legal counsel.

Birla Sun Life Insurance launches health plans

MUMBAI, January13, 2009: Targeting to tap the country's Rs two lakh crore health care industry, Birla Sun Life Insurance (BSLI) has announced the launch of its two plans - BSLI Health Plan and the BSLI Universal Health Plan .This is a national launch across all key centers and states in the country.

"A very small percentage of the population in India is covered by health insurance. However, the current trend is: individuals are becoming more conscious of their health today. In a study of the Asian markets, undertaken by Sun Life Financial-BSLI JV Partner, in India, 64% of the individuals are more conscious of their health today than they were 5 years ago. Studies have shown that 70% of the health care costs are borne by individuals These factors therefore indicate the potential for growth of the health insurance market BSLI health plans have been designed to meet the needs of customers and provide the much needed health protection," said Ms Anjana Grewal – Senior Vice President Head Health Business Birla Sun Life Insurance.

"By introducing health plans, we complete the handshake with our customers because we now cover their needs across a wider spectrum of protection. Birla Sun Life Insurance has led the market with innovation in product design which gives our customers an edge. Once again our health plans are designed to give the extra value to our customers" she said.

Guaranteed Insurability Health Benefit that extends insurance benefits up to the age of 80 years and cover to dependent children or parents with no medical underwriting after that at the initial stage; free medical Second Opinion by Mediguide (World's leading second opinion provider) and fixed benefits on hospitalization/surgery are among the highlights of the BSLI Health Solution bouquet.

The plans also come with tax saving up to Rs. 15,000 on self and up to Rs. 20,000 for individuals with senior citizen parents. BSLI health plans also ensure cashless facility over 5000 Hospitals across India and cover as many as 101 types of surgeries on exercising GIHB. In a unique initiative, the company has come out with a one-family-one-policy concept with flexibility to add new family members. It also guarantees increase in the Sum Assured by 20% after every three years.

Key features:
• Health Plans with cashless facility at 5,000 hospitals pan India
• Health Insurance Plan fully guaranteed for 3 years
• Life Insurance coverage up to the age of 80 yrs
• Tax benefit under section 80D
• Medical Second Opinion facility
• Grace Period of 30 days
• Universal Health Benefit for an individual and his/her family with out-of-pocket health related expenses
• Benefits on hospitalization/surgery are fixed and paid
– Irrespective of actual costs
– In addition to any other health plan

About Aditya Birla Group

The Aditya Birla Group enjoys a leadership position in all the sectors in which it operates. It is anchored by a force of 100,000 employees, belonging to 25 nationalities. Its operations span 25 countries across six continents and are reckoned as India's first multinational corporation. Headquartered in Mumbai, India, over 60 per cent of the Group's revenues flow from our overseas operations. The Group nurtures a work culture where success is built on learning and innovation. The Aditya Birla Group has been adjudged "The Best Employer in India and among the top 20in Asia" by the Hewitt, Economic Times and Wall Street Journal Study 2007.

Aditya Birla Group has a strong presence across various financial services verticals that include fund management, distribution and wealth management, security based lending, insurance broking, private equity and life insurance.

The consolidated revenues from these businesses crossed the US 1 billion dollar mark, in 2007-08. In the first half of 2008-09, the financial services business continued its strong momentum of growth with consolidated revenues crossing Rs. 2,077 crore for the first half, up from Rs. 1,463.97 crore in the corresponding period, last year.

Aditya Birla Financial Services Group has taken another step towards expanding their footprint and financial offering by entering into an agreement with the promoter family of Apollo Sindhoori to acquire a 56% stake in the company. The acquisition will fast track their entry into retail broking and is in keeping with its desire to be a broad based and integrated player, while further strengthening their position as a manufacturer and distributor of value added financial products and solutions.

About Sun Life Financial Inc.

Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Overall, Sun Life has a high quality, diversified investment portfolio with over $100 billion in invested assets as of June 30, 2008. Sun Life's $60billion bond portfolio is highly diversified across 1400 different borrowers around the world and is rated 97% investment grade. Globally, Sun Life is in a solid financial position, and maintains financial strength ratings which are amongst the highest of all insurers in North America. Sun Life has a strong balance sheet and is well capitalized beyond minimum requirements. The Company's balanced business model is an important pillar of its overall risk management framework. SLF prides itself on its prudent investment style and strong risk management controls.

About Birla Sun Life Insurance (BSLI)

Birla Sun Life Insurance (BSLI) has been operating for 7 years. It has contributed significantly to the growth and development of the life insurance industry in India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. BSLI has covered more than 2 million lives since it commenced operations. And its customer base is spread across more than 1500 towns and cities in India. The company has a capital base of Rs. 1800 crores as on December 31, 2008.The current AUM of Birla Sun Life Insurance stands at Rs. 7161 Crs as on December 31, 2008.

For further information kindly contact:
Ms. Dielnawaz Damania
PR & Corporate Communication
Birla Sun Life Insurance Company Limited,
Tel: 022-6678 3333.
E-mail: dielnawaz.damania@birlasunlife.com

Or

B N Kumar
Concept PR
9321048332, 9320048332