Bajaj Allianz Life Insurance logs profit of Rs 30 cr.Bajaj Allianz Life Insurance logs profit of Rs 30 cr.

Company News

Mumbai, July 12

Bajaj Allianz Life Insurance has once again taken the lead amongst pvt. sector life insurance cos. in proving it’s superior management & marketing skills and on the back of the profitable FY 06-07, has once again demonstrated a robust performance for the 1st qtr with profits. Normally the 1st qrtr. contributes about 7-10% of annual new business premium and we have profit of Rs 30 cr already for the 1st quarter.

Building on the strong performances of being number 1 in FY 05-06 in new business and the largest issuer of policies in the pvt. sector in 2006-07, Bajaj Allianz Life Insurance is now truly a mass retail co. reaching out to all segments across the country. The company has grown consistently and become profitable by further increasing the distribution and improving the productivity.

Sam Ghosh Country Manager Allianz & CEO Bajaj Allianz Life was very proud to say “Key to profitability is our strong base of wide & stable distribution network coupled with bouquet of flexible and simple products that appeal to customers across the country that has helped us create a very trusted brand name. Profits are not only a result of efficient capital management & strong cost controls across the company but also contributed by strong discipline and committed passion and support of a very devoted team of employees, agents, corporate agents, franchisees and bancassurance partners who have proved all round leadership in the industry. Our sincere thanks to all our customers and stake-holders for being the pillar of our strength and inspiration and helping us achieve this much ahead of everyone else.’

For further information, please contact:

Tabassum Khan - +91 98190 27649

Harsh Mehta - +91 98208 02228