Why Bajaj Allianz
Bajaj Allianz Life Insurance
Bajaj Allianz Life Insurance is a union between Allianz SE, one of the largest Insurance Company and Bajaj Finserv. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion (Over INR. 55, 00,000 Crores). Allianz SE has over 119 years of financial experience and is present in over 70 countries around the world.
| Accelerated Growth | ||
|---|---|---|
| Fiscal Year | No. of policies sold | New Business in FY |
| 2001-2002(6 mths) | 21,37 | Rs. 7 cr. |
| 2002-2003 | 1,15,965 | Rs. 63.3 cr. |
| 2003-2004 | 1,86,443 | Rs. 180 cr. |
| 2004-2005 | 2,88,189 | Rs. 857 cr. |
| 2005-2006 | 7,81,685 | Rs. 2,717 cr. |
| 2006-2007 | 20,79,217 | Rs. 4,302 cr. |
| 2007-2008 | 37,44,742 | Rs. 6,674 cr. |
At Bajaj Allianz Life Insurance, customer delight is our guiding principle. Our business philosophy is to ensure excellent insurance and investment solutions by offering customised products, supported by the best technology.
No.1 Private Insurance company
Total new business premium collected by Bajaj Insurance was Rs 6,674 crore in 2007-08.
The company reported a growth of 52% and its market share went up to 6.98% in 2007-08 form 5.66% in 2006-07. The company ranked second (after LIC) in number of policies sold in 2007-08, with total market share of 7.36%.
For the period of April – July 2008, total amount of new insurance premium sold was Rs 1,197.95 crore as against Rs 1,075.93 in the same period last year, experiencing a growth of 11.35%. Number of policies sold dropped by around 3%.
Bajaj Allianz Life has a strong distribution network across the country with over 1000 branches spread over 950 towns.
It plans to raise its capital base by infusing Rs 500 crore in next few months to support its expansion plans.
Source: The Economic Times
Top 10 Players In Insurance
- Life Insurance corporation of India
- Bajaj Allianz General Insurance
- ICICI Prudential Life Insurance
- ICICI Lombard General Insurance
- Birla Sunlife Insurance
- Tata AIG General Insurance
- New India Assurance Co.
- Iffco Tokio General Insurance
- Oriental Insurance Co.
- HDFC Standard Life Insurance
Source: http://www.naukrihub.com/india/banking-insurance/top-companies/
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