Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) is a joint venture (JV) of Bank of India, Union Bank of India, and Dai-ichi Life, a leading life insurance company of Japan. They have commenced operations in 2009.
Bank of India and Union Bank are leading Indian public sector banks and have a robust nationwide network of more than 11000 branches that cater to more than 64 million customers. Bank of India and Union Bank have sponsored select Regional Rural Banks, which provide SUD Life access to more than 1950 branches that make life insurance products available in rural areas.
Dai-ichi Life is the second-largest life insurance company in Japan and is one of the top ten life insurers in the world. Dai-ichi Life was established in 1902 and is a recognized brand name across the globe. Dai-ichi Life is renowned for sound product knowledge, superior asset management skills, and strong operational capabilities to manage life insurance businesses globally.
SUD Life is committed to providing insurance products across various strata of society and geographies as per the needs of the customer. At SUD Life, the customer commands topmost priority.
The promoters of SUD Life have a long-term commitment towards their customers and stakeholders and have earned the trust of 64 million customers.
They have 23 Regional offices and 78 Branch offices across India.
Opportunities in the Insurance Business:
While there are 57 insurance companies, of which 24 are in the life insurance business and 33 are non-life insurers, the insurance penetration in India, at 3.42% is far below the global average of 6.2%.
Augmenting the coverage of insurance has immense implications for the nation. The Government is making numerous efforts to promote awareness about insurance and improve accessibility, especially to those in economically weaker sections of society and those in the hinterlands. At the same time, the insurance fraternity has also donned the mission to promote insurance as a concept before products, with several initiatives, including simpler and more customized.
|Total Available Shares:||Not Available|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||100 Shares|
|Current Unlisted Share Price:||₹ 50 Per Equity Share|
|Retail Discount:||Bulk Deal (1%)|
|Shareholder||No. of Shares||% of Holding|
|Bank of India||750,000||28.96%|
|Union Bank of India||650,000||25.10%|
|Dai-ichi Life Holdings, Inc., Japan||1,189,641||45.94%|