Bajaj Allianz's Dec insurance premium stands at ₹1,330.90 Crore

7 Jan 2025 , 09:18 AM

Bajaj Allianz General Insurance reported a gross direct premium of ₹1,330.9 Crore in December 2024, totaling ₹17,112.4 Crore for the year.

In December 2024, Bajaj Allianz Life Insurance’s individual single premiums totaled ₹39.21 Crore, while total individual non-single premiums were ₹648.28 Crore.

On a Year-to-date (YTD) basis, individual single premiums came in at ₹492.52 Crore, while individual non-single premiums stood at ₹4,688.72 Crore from April to December 2024.

In December 2024, Bajaj Allianz Life Insurance’s group single premium totaled ₹311.97 Crore and ₹2,838.72 Crore year-to-date. The group’s yearly renewable premium in December was ₹55.36 Crore, bringing the total for the nine months to ₹483.95 Crore.

Bajaj Allianz Life Insurance reported ₹1,054.82 Crore in new business in December 2024, totaling ₹8,503.91 Crore between April and December 2024.

Last October, Bajaj Finserv reported that German company Allianz SE is actively considering exiting the life and general insurance joint ventures. According to Bajaj Finserv, the negotiations are in the preliminary stage, and no proposal has been presented to the company’s board or its insurance companies in this regard.

Allianz has stated that it is still committed to the Indian insurance industry, but would not speculate on alternatives. Bajaj Finserv owns a 74% share in the joint ventures with Allianz. Allianz, which owns the remaining 26% interest, has stated that its strategic priorities have evolved, resulting in the potential withdrawal.

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