Aditya Birla Nuvo (ABNL) has transferred its entire stake of 51% held in Birla Sun Life Insurance Company to Aditya Birla Financial Services, a wholly owned subsidiary of ABNL. Accordingly, Birla Sun Life Insurance Company has become a subsidiary of Aditya Birla Financial Services and a step down subsidiary of ABNL.
Aditya Birla Nuvo is a premium conglomerate. It is part of the Aditya Birla Group, a US$ 41 billion Indian multinational operating in 36 countries across six continents. Its service sector businesses include Financial Services, Fashion & Lifestyle and Telecom.