Bajaj Allianz logs general insurance premium of ₹1,324.67 Crore in Nov

10 Dec 2024 , 01:35 PM

Bajaj Finserv Ltd reported on Monday (December 9) that its unlisted insurance companies, Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd, delivered strong premium performance in November 2024.

Bajaj Allianz General Insurance stated that it has logged gross direct premiums of ₹1,364.67 Crore in November, bringing the aggregate premium for the year to ₹15,781.54 Crore.

Bajaj Allianz Life Insurance generated total new business premiums of ₹659.35 Crore in November, amounting to ₹7,449.08 Crore from April to November 2024.

The result includes ₹31.73 Crore from individual single premiums, ₹407.95 Crore from individual non-single premiums, ₹193.90 Crore from group single premiums, and ₹25.77 Crore from group annual renewable premiums.

Bajaj Finserv’s net profit increased by 8% to ₹2,097 Crore in the second quarter of FY25, up from ₹1,929 Crore in the same time previous year. The company’s income from operations increased by 30% to ₹33,704 Crore, from ₹26,023 Crore in the previous year.

Bajaj Finserv’s general insurance division had a profit after tax (PAT) of ₹494 Crore, up 6% from ₹468 Crore in the previous year. The corporation credited its success to expansion across its key operations while managing risk in several divisions.

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