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July 14, 2001 		Feedback  
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Birla Sun Life to sell insurance via DHFL

Private sector Birla Sun Life Insurance on Friday announced that mortgage firm Dewan Housing Finance Corporation Ltd's wholly owned subsidiary will distribute its insurance products.

Birla Sun Life is a joint venture between India's Aditya Birla group and Canada's Sun Life Financial Services. It started operations in March and offers three insurance plans.

DHFL is India's second-largest mortgage firm.

Indian regulations allow distributors to market only one insurance firm's products.

Birla Sun is pursuing a multiple channel strategy for distributing its products, Vijay Singh, director, Birla Sun Life, told a news conference.

Besides tying up with DHFL, it has 15 agents, three branches -- to be increased to six in two months -- and marketing agreements with Citibank and Deutsche Bank.

The insurance firm is also working out distribution alliances with other organisations, Singh said.

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