Bajaj Allianz Life Insurance's total premium income at Rs 10,736 crore, in FY 23

11 Apr 2023 , 02:25 AM

Bajaj Allianz Life Insurance Company, the unlisted insurance subsidiary of Bajaj Finserv, has reported that it received individual single premiums of Rs 60.93 crore for the month of March 2023. 

Additionally, the company’s individual non-single premiums for the same month amounted to Rs 1,116.90 crore.

During the aforementioned month, Bajaj Allianz Life Insurance Company reported Group single premiums of Rs 475.30 crore and Group yearly renewable premiums of Rs 23.02 crore.

For the entire fiscal year 2022-23, the company’s overall premium amounted to Rs 10,736.98 crore.

Bajaj Finserv has emerged as a dominant player in the financial industry, with significant investments in insurance, lending, asset management, and wealth management.

Bajaj Allianz General Insurance Company Limited is a collaboration between Bajaj Finserv Limited and Allianz SE, the leading global insurance company.

Bajaj Allianz General Insurance posted robust financial results for Q3FY23, reporting revenue of Rs 3,821 crore and a net profit of Rs 278 crore. Additionally, the company reported a sound Combined Ratio of 100.3% and Solvency Ratio of 373% during the same period.

For feedback and suggestions, write to us at [e-mail]