The fresh capital will be used to increase the pace of its growth on national distribution and new products infrastructure. Birla Sun Life currently has 12 branches in nine cities and is expected to double this in the next fiscal and possibly expand it into other cities as well, says Birla Sun Life associate director (business development) Anjana Grewal.

The joint venture partners, as per their share-holding pattern, will share the increase of Rs 30 crore. Under this pattern the Aditya Birla group contributes 74 per cent and Sun Life Financial 26 per cent, in keeping with IRDA regulations.