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Star Union Dai-ichi Life Insurance (SUD Life) is a joint venture between Bank of India and Union Bank of India, two Indian public sector banks, and Dai-ichi Life, a Japanese life insurance firm. It is one of the small-sized insurance companies in India as the total assets under management is less than Rs. 100 billion.

History
SUD Life was incorporated in September 2007 and commenced operations in February 2009 with Rs. 420 crores in funding from its founding promoters. The company operates in the life insurance, annuity, health insurance, pension fund and unitised insurance fund. In June 2016, the Bank of India sold its 18% ownership in the company to Dai-ichi Life Insurance. Later in April 2019, BOI solicited non-binding proposals/bids for the purchase of 6,48,739,64 equity shares representing its 25.05% ownership. The proposed stake sale is part of the bank's efforts to dispose of non-essential assets and raise capital.

As of August 2021, SUD Life does its business through a distribution network that includes 14,300 bank branches and serves more than 9.2 million clients.

Asset under management
As of September 29, 2021, the asset under management of the company is ₹ 12,093 crores, and almost 47% of that amount is comprised of securities issued by either the Central Government (34%) or the State Government (14%). In addition to that, almost 26% of its AUM is invested in corporate entities with ratings of AAA and AA or above.

Financial
The company reported an increase of 80 per cent increase in its new business premium income to Rs 1,309 crore in December 2021.

Awards
Institute of Directors's Golden Peacock Award 2022 for Corporate Governance under the insurance industry category.