bajajallianz best option: July 2007

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Bajaj Allianz Life Insurance logs US $ 1.04 bn (Rs 4270 cr.) in new business with profits of US $ 15.3 mn (Rs 63 cr.) & 2 million policies

Bajaj Allianz Life Insurance declares Rs 63 cr (US $ 15.3 mn.) profit for FY 06-07.
Bajaj Allianz Life Insurance is the first large pvt. sector life insurance co. with a pan India network and strong retail focus to declare substantial profits for the financial year.
Bajaj Allianz Life is most profitable pvt. life insurer for 06-07.
Bajaj Allianz Life Insurance logs in Rs 4270 cr. ( US $ 1.04 bn approx. ) of new business premium. For the first time private life insurance cos. have crossed the US $ 1 bn new business in a FY.
Bajaj Allianz Life Insurance issued over 2 million (20,79,217) policies in this year – highest amongst all pvt. sector players and taking the number 1 position. 3.4 million policies (34,72,875) issued till date. Only pvt life insurer to cross 2 mn policy mark in a FY.
Bajaj Allianz Life Insurance collected more new business premium in this one year alone, then the total of last 5 year’s new business ( Rs 3821 cr.).
More policies issued in this one year then the total policies issued in the last 5 years(1.4 million policies).
Over 70% of the business was regular premium for the FY and in the month of March 07 over 80% of the business was regular premium.
Largest distribution network to reach the customers across the country with 2,13,000 agents, 900 offices in 840 towns, 200 corporate agents & Bancassurance partners.

Pune, May 11th, 2007: Bajaj Allianz Life Insurance has once again taken the lead amongst pvt. sector life insurance cos. in proving it’s superior management & marketing skills by being the first large pvt. sector life insurance co. with pan India network and strong retail focus to become the most profitable private life insurance co. for the FY. The Company announced a healthy profit of Rs 63 cr. for the FY 2006-07 as per the audited results. Excluding Participating funds profit the profit stands at Rs 54 Cr.

Building on the number 1 position in previous FY 05-06 in new business the co. is now number 1 in the pvt. sector in issuing the largest number of policies and becoming a truly mass retail co. Bajaj Allianz Life Insurance has grown consistently and become profitable by further increasing the distribution and improving the productivity.

Rahul Bajaj, Member of Parliament, Chairman Bajaj Allianz Life insurance co. ltd. was delighted in saying," Crossing the US $ 1 billion in new business premium and a healthy profit of Rs 63 cr. in such a short span of time is really a proud moment and speaks highly of the management team spearheading this accelerated growth. Winning trust & confidence of people across the country is reflected in the solid performance in this FY by issuing largest number of policies in pvt. sector, over US $ 1 bn in new business premium, doing more business & policies in this FY than done in the last 5 years. My sincere thanks to all our valuable customers, agents, employees and other stake-holders whose constant support and valuable inputs have enabled us to reach the top & build such a trusted brand across the country. With this strong performance & large base, Bajaj Allianz Life Insurance is one of the country's private sector financial powerhouse in the making. ''

Sam Ghosh, Country Manager Allianz & CEO Bajaj Allianz Life was very proud to say “This is a great year for Bajaj Allianz Life Insurance with a Billion Dollar in new business premium and being most profitable co. in the private sector. This feat was achieved by efficient capital management, strong cost controls across the company and a very devoted team of employees, agents, corporate agents, franchisees and bancassurance partners who have proved all round leadership in the industry. Our bouquet of flexible and simple products & company offices in their own towns has appealed to customers across the country and helped us create a very trusted brand name and as a result we issued over 2 million policies highest by any private life insurer. Our sincere thanks to all our customers and stake-holders for being the pillar of our strength and inspiration.’’

Bajaj Allianz Life Insurance accelerated growth since inception

Financial Year
No. of policies
New Business Premium (Rs cr)
Rank

2001-2002 (6mths)
21,376
7

2002-2003
115,965
61
7th

2003-2004
186,443
180
6th

2004-2005
288,189
856
2nd

2005-2006
781,685
2,717
1st

Total for first 5 years
1,393,658
3,821

2006- 2007 only
2,079,217
4,270

Rank for 2006-07 as per IRDA results
1st in Policy
2nd in New business premium

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 3.5 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 31 products and more need-based products are in the pipeline.

news board

NEWSBOARD

10/07/2007
> Bajaj Allianz Life Launches full suite of Micro Insurance products providing security to the underprivileged Masses

10/07/2007
> Capital UnitGain just got a whole deal better with Waiver of premium and Family Income Benefit

13/06/2007
> Bajaj Allianz Care First – India’s first ‘Health+Life’ cover

11/05/2007
> Bajaj Allianz Life Insurance logs US $ 1.04 bn (Rs 4270 cr.) in new business with profits of US $ 15.3 mn (Rs 63 cr.) & 2 million policies

29/03/2007
> Bajaj Allianz Life accelerates rapid growth with additional capital infusion of Rs. 130 crores

23/01/2007
> Pension Planning a whole lot better with Bajaj Allianz Life - New UnitGain Easy Pension Plus plan

04/01/2007
> Bajaj Allianz Life Insurance Crosses 2 Million Policy Mark & US $ 1 billion in premiums

08/12/2006
> Bajaj Allianz Life gears up for aggressive growth with additional capital infusion of Rs. 70.8 crores (Total capital reaches Rs. 570 crores)

15/11/2006
> Bajaj Allianz Life Insurance launches Unique New UnitGain Plus SP with Maxx uniform allocation

21/08/2006
> Bajaj Allianz Life launches 7 new ULIPs

21/08/2006
> Bajaj Allianz Life posts over 3 fold jump over large base of last year

05/04/2006
> Bajaj Allianz Life Insurance the new leader in pvt sector life insurance

27/03/2006
> Fresh capital to further Bajaj Allianz’s magnum growth

07/03/2006
> BAJAJ ALLIANZ LIFE the New Leader in pvt sector insurance with 4 fold jump in new business

30/01/2006
> Bajaj Allianz Life No.1 with Rs 100 cr Lead!! with 467% growth

01/12/2005
> Bajaj Allianz Life takes number one position - IRDA results September 2005 positions Bajaj Allianz at No 1

08/10/2005
> Bajaj Allianz goes all out on bancassurance - Ties up with 5 cooperative banks.

08/04/2005
> Bajaj Allianz Life to offer special life insurance cover to women; launches MahilaGain.

05/19/2005
> 1001 Crores GWP, 380 % growth for Bajaj Allianz Life - strengthens No. 2 position with Rs 240 cr lead

01/31/2005
> Tax Saving & Buy Life Insurance Online.

01/17/2005
> Principal PNB Asset Management Company ties up with Bajaj Allianz Life Insurance Company Limited

01/07/2005
> Bajaj Allianz simplifies & fast-tracks claims process for Tsunami affected areas and donates one day salary

01/04/2005
> Bajaj Allianz Life Insurance ties up with Bajaj Capital Insurance Broking Ltd.

06/10/2004
> Bajaj Allianz Life Insurance Company Limited logs in Rs. 250 Crores GWP growing @ 325%

19/08/2004
> Ajay Singh Regional Manager, Birla Sun Life moves to Bajaj Allianz Life

09/08/2004
> Bajaj Allianz Launches Life Long Gain Plan

03/08/2004
> Allianz Bajaj Changes Its Name To Bajaj Allianz Life Insurance

19/07/2004
> Allianz Bajaj Launches Unit GainPlus & UnitGain SP Plans With An Actively Managed Fund

30/06/2004
> Allianz Bajaj launches Unit-linked Group Products

17/06/2004
> Allianz Bajaj declares bonus for policyholders

09/06/2004

> Allianz Bajaj Life Insurance Ties Up with DSP Merrill Lynch for Active Fund Managemnet for unit linked products

01/06/2004
> Allianz Bajaj Premium Income leaps 3-fold in 2003-04

01/03/2004
> Allianz Bajaj customers base crosses 3 lakh in just 29 Months

29/03/2004
> Allianz Bajaj launches "Protector" - A Mortgage Reducing Term Assurance Plan

bajaj allianz best option for investment

Bajaj Allaianz... Insurances

Sunday, July 22, 2007
BajajAllianz

Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between two leading conglomerates- Allianz AG, one of the world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world.

Bajaj Allianz Life Insurance

• No.1 Private Life Insurance Company in India for 2005-06
• Growth rate of 216%for financial year 2005-2006
• Over 20,00,000 satisfied customers
• A countrywide network of 900+ offices
• Assets under management Rs. 5,500 cr.
• Shareholder capital base of Rs. 700 cr.

Allianz Group

Allianz Group is one of the world's leading insurers and financial services providers.

Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost 174,000 employees. At the top of the international group is the holding company, Allianz AG, with its head office in Munich.

Allianz Group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of

· Property and Casualty Insurance,

· Life and Health Insurance,

· Asset Management and Banking.

ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE

· Worldwide 2nd by Gross Written Premiums - Rs.4,46,654 cr.

· 3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. - AUM of Rs.51,96,959 cr.

· 12th largest corporation in the world

· 49.8 % of global business from Life Insurance

· Established in 1890, 110 yrs of Insurance expertise

· 70 countries, 173,750 employees worldwide

http://www.allianz.com

Bajaj Group

Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the largest manufacturer of two-wheelers and three-wheelers in India and one of the largest in the world.

A household name in India, Bajaj Auto has a strong brand image & brand loyalty synonymous with quality & customer focus.

A STRONG INDIAN BRAND- HAMARA BAJAJ

· One of the largest 2 & 3 wheeler manufacturer in the world

· 21 million+ vehicles on the roads across the globe

· Managing funds of over Rs 4000 cr.

· Bajaj Auto finance one of the largest auto finance cos. in India

· Rs. 4,744 Cr. Turnover & Profits of 538 Cr. in 2002-03

· It has joined hands with Allianz to provide the Indian consumers with a distinct option in terms of life insurance products.

· As a promoter of Bajaj Allianz Life Insurance Co. Ltd., Bajaj Auto has the following to offer -

· Financial strength and stability to support the Insurance Business.

· A strong brand-equity.

· A good market reputation as a world class organization.

· An extensive distribution network.

· Adequate experience of running a large organization.

http://www.bajajauto.com

Bajaj Allianz General Insurance

Bajaj Allianz is the fastest growing general insurance company in India

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct General Insurance business (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining 26% is held by Allianz, AG, Germany.
http://bajajallianz.com

Why Bajaj Allianz Life Insurance?

An Impeccable track record across the globe in providing security and cover for you and your family...

We, at Bajaj Allianz, realise that you seek an insurer who you can trust your hard earned money with.

Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market, together are committed to offering you financial solutions that provide all the security you need for your family and yourself.

Bajaj Allianz brings to you several innovative products, the details of which you can browse in this section.

Key Achievements in FY 2005-06 :

• No.1 Pvt Life Insurer FY 2005-06. Leading by Rs. 78 Cr.

• No.1 Pvt Life Insurer in Retail Business. Leading by Rs. 339 Cr.

• Whopping growth of 216% for the FY 2005-06

• Have sold over 20,00,000 policies to satisfied customers

• Is backed by a network of 900+ offices spanning the country

• Accelerated Growth

Fiscal Year
No of policies sold in FY
GWP in FY

2001-2002 (6mths)
21,376
Rs 7 cr.

2002-2003
1,15,965
Rs 69 cr.

2003-2004
1,86,443
Rs 221 cr.

2004-2005
2,88,189
Rs 1002 cr.

2005-2006
7,81,685
Rs 3134 cr.

• Assets under management Rs 3,324 cr.

• Shareholder capital base of Rs 500 cr.

Posted by sahil at 8:30 AM

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