Sun Life Financial Services of Canada Inc. and its joint venture partner, the Aditya Birla Group, today celebrated the first year of Birla Sun Life Insurance Co. Ltd’s operations at a ceremony in Mumbai, India.

Birla Sun Life Insurance is an extension of Sun Life Financial’s successful financial services joint venture with the Aditya Birla Group. It was launched in March 2001, and currently operates 12 branch offices in nine cities with a direct sales force of nearly 2,000 advisors. Birla Mutual Funds, managed by Birla Sun Life Asset Management since 1999, is the second largest mutual fund family in India, measured by assets under management.

“It is a pleasure to be able to celebrate our first successful year of operations with our joint venture partner, the Aditya Birla Group,” said Donald Stewart, chairman and CEO. “This has proven to be a successful partnership, and is in large measure due to the strong commitment and spirit of co-operation between our two companies.”

“I believe the insurance business has enormous growth potential in India,” said Kumar Mangalam Birla, chairman, Aditya Birla Group. “In just a year’s time, our fleet-footed Birla Sun Life team has made considerable progress. Our tie-up with Sun Life Financial has been a source of competitive advantage, given their global expertise in this field.”