Mumbai, December 07, 2006: Bajaj Allianz Life Insurance Company , one of the leading and the largest private sector life insurance co. in India plans to continue its expansion and growth plans even more aggressively. With its own offices in more then 900 towns of the country it has managed to sustain its impressive growth pattern by making available its world-class insurance services in every nook and corner of India for all class of customers. Bajaj Allianz Life has already crossed US $ I billion (Rs 5000 cr+ ) of new business in the 5 years of it’s operations and over 1.9 million policies already sold.
To maintain and continue this high impact growth and quality service across the country, Bajaj Allianz Life Insurance Company has received a fresh capital infusion of Rs. 70.8 crores which has taken the total capital to Rs. 570 cr. Even with this recent capital infusion Bajaj Allianz Life would still be the most efficient user of the capital in the life insurance industry.
Mr. Sam Ghosh, Country Manager, Allianz and Chief Executive Officer, Bajaj Allianz Life Insurance Company says, “Our current performance clearly indicates that our products and services are well appreciated across the country from all segments of customers and this trust and acceptability has made us the one of the leading pvt. sector life insurance co. in India. We very confident that we will do new business of US $ 1 Billion in this financial year itself. This infusion of capital will enable us to continue with our expansion plans and achieve sustained growth and quality service year after year.”
Bajaj Allianz Life Insurance is currently present in more then 900 towns, most of them being in the non-urban and semi-rural areas of India. Its current tie-up with Godrej Aadhaar rural Malls, district & rural co-op banks and the 7 Regional Rural Banks of Syndicate Bank has made Bajaj Allianz Life Insurance’s products available in over 1200 branches in the rural areas. This significant move has made it possible for Bajaj Allianz Life Insurance to a pan India life insurance co. and is able to diversify its operations and evenly distribute its products to all the segments of the society.
About Bajaj Allianz Life Insurance :
Bajaj Allianz Life Insurance Company was the No1. pvt. sector Life Insurance co. for the FY 2005-06. With a pan India presence and over 900 + offices, Bajaj Allianz Life Insurance has already has a customer base of close to 2 million customers. Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. For companies it provides comprehensive 'Employee Benefit Solutions' (Group Term Life, EDLI, Gratuity, Super-annotation, Key man Insurance and more); for the individual Invest Gain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum), Cash Gain (Money Back), Child Gain (Children's plan), Risk Care (Pure Term), Lifetime Care (whole life), Term Care (term with return of premium), Saran Visitant (Retirement Plan), Protector (Mortgage term insurance plan), New UnitGain Super, NewFamily Gain, New UnitGain Plus, New UnitGain, New UnitGain Premier, New UnitGain Easy Pension Plus, New UnitGain Easy Pension Plus – single premium. Currently Bajaj Allianz has a product portfolio of 30 products and more need-based products are in the pipeline .
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