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Sun Life Financial increases stake in Birla Sun Life Insurance

Canada's Sun LifeFinancial Inc. said April 11 that it increased its ownership in India-based joint venture to 49% from 26%.

The increased stake in Birla Sun Life Insurance aligns with SunLife's goal of expanding its presence in markets with strong growth opportunities.

The move follows the Indian government's decision to increase the allowable foreign shareholding inlocal insurance companies.