Mumbai, July 12 (ANI): Bajaj Allianz Life Insurance has once again taken the lead amongst private sector life insurance companies in proving it's management marketing skills and on the back of a profitable 2006-07. The company is starting its first quarter of 2007-08 with a Rs 30 cr profit. Its full year profit for fiscal 2006-07 was Rs 63 cr.
Bajaj Allianz Life Insurance issued over 536,703 policies in this quarter as opposed to 201,442 policies in the same period in 2006-07, a growth of over 166 percent
The company's annualised premium of Rs 658 crore, registering a growth of 86 percent for the first quarter. The total new business premium received in the first quarter is Rs. 729 crore.
Sam Ghosh Country Manager Allianz and CEO Bajaj Allianz Life, proudly said: "Key to profitability is our strong base of wide and stable distribution network coupled with bouquet of flexible and simple products that appeal to customers across the country."
Bajaj Allianz has over 900 offices in India, and a customer base of close to 3.5 million. Currently it has a product portfolio of 32 products. (ANI)
Tuesday, November 20, 2007
‘10-yr term provides high allocation, unmatched flexibility, loyalty benefits’
Providing new insurance products to its customers the Bajaj Allianz on Thursday launched a unit linked investment plan CenturyPlus.
A spokesman of the company in a statement said the systematic investment plan designed for a 10-year term provided high allocation, unmatched flexibility, loyalty benefits and continued participation in investments making it one of the finest products.
Giving details the statement said the Bajaj Allianz CenturyPlus offered 98 per cent allocation for the first 2 years and 100 per cent allocation for all subsequent premiums paid.
The statement quoted Area Head Bajaj Allianz Life Afaq Ahmad saying, “CenturyPlus is an investor focus plan that gives the benefit of high allocation and also gives twin benefits of sum assured plus fund value.”
“For the first time we offer unit to our customers, which would enhance the investor fund value,” he said.
“Bajaj with CenturyPlus for the first time offer loyalty units, which enhance fund value from the 6th year onwards; 7 percent loyalty units as percentage of 1st year’s annualized premium and additional 0.25 per cent loyalty units as percentage of fund value in respect of regular premium,” he said.
Counting some of the key features of the plan the statement said: “Take maximum advantage of booming markets today and get maximum allocation to your funds from first year onwards. 1st and second year 98 per cent allocation; third year onwards 100 per cent.”
“Guaranteed life cover with twin benefits of sum assured plus fund value. Loyalty units to enhance your fund value every year from the sixth policy year 7 per cent of first year, annualized premium and also get an additional 0.25 per cent of fund value in respect to regular premium greater or equal to Rs 1 lakh,” the statement said.
Introducing ‘asset allocation fund’ looks after your investments even when the market conditions change. “Our experienced fund mangers monitor the mix of assets in the fund and manage the mix in such situations to maximize your returns. Apart from this get five other funds to choose from,” it said.
The statement said get the option of limited premium payment between 3 to 10 years.
Some other advantages of the product are: continued participation in investment performance even if you are unable to pay the premium for 3 years. Flexibility of partial withdrawals at any time after 3 years from commencement of the policy provided 3 years premiums are paid and 3 free switches every year.
A host of optional additional rider benefits which includes assurance to your family with accidental death benefit and accidental permanent total/partial disability benefit.
Option to pay unlimited top up premiums anytime during the tenure of your policy to further enhance your savings.
A spokesman of the company in a statement said the systematic investment plan designed for a 10-year term provided high allocation, unmatched flexibility, loyalty benefits and continued participation in investments making it one of the finest products.
Giving details the statement said the Bajaj Allianz CenturyPlus offered 98 per cent allocation for the first 2 years and 100 per cent allocation for all subsequent premiums paid.
The statement quoted Area Head Bajaj Allianz Life Afaq Ahmad saying, “CenturyPlus is an investor focus plan that gives the benefit of high allocation and also gives twin benefits of sum assured plus fund value.”
“For the first time we offer unit to our customers, which would enhance the investor fund value,” he said.
“Bajaj with CenturyPlus for the first time offer loyalty units, which enhance fund value from the 6th year onwards; 7 percent loyalty units as percentage of 1st year’s annualized premium and additional 0.25 per cent loyalty units as percentage of fund value in respect of regular premium,” he said.
Counting some of the key features of the plan the statement said: “Take maximum advantage of booming markets today and get maximum allocation to your funds from first year onwards. 1st and second year 98 per cent allocation; third year onwards 100 per cent.”
“Guaranteed life cover with twin benefits of sum assured plus fund value. Loyalty units to enhance your fund value every year from the sixth policy year 7 per cent of first year, annualized premium and also get an additional 0.25 per cent of fund value in respect to regular premium greater or equal to Rs 1 lakh,” the statement said.
Introducing ‘asset allocation fund’ looks after your investments even when the market conditions change. “Our experienced fund mangers monitor the mix of assets in the fund and manage the mix in such situations to maximize your returns. Apart from this get five other funds to choose from,” it said.
The statement said get the option of limited premium payment between 3 to 10 years.
Some other advantages of the product are: continued participation in investment performance even if you are unable to pay the premium for 3 years. Flexibility of partial withdrawals at any time after 3 years from commencement of the policy provided 3 years premiums are paid and 3 free switches every year.
A host of optional additional rider benefits which includes assurance to your family with accidental death benefit and accidental permanent total/partial disability benefit.
Option to pay unlimited top up premiums anytime during the tenure of your policy to further enhance your savings.
Monday, November 12, 2007
bajaj allianz best 500 company
Allianz Group: A Fortune 500 company in India
IBEF: July 12, 2005
Allianz is one of the leading providers of insurance and asset management products and services worldwide. The companies that make up Allianz Group have presence in property and casualty insurance, life and health insurance, asset management and banking. Founded in 1890 in Berlin, Allianz is now present in over 70 countries, employs about 174,000 and has over 60 million customers. In 2003, the Allianz Group was ranked 11th in the Fortune 500 list and had worldwide revenues of USD 114.9 billion.
An Allianz group company, Allianz Aktiengesellschaft Holding set up its liaison office in India in 1996.3 In India, Allianz is currently present in Life and General Insurance.
Bajaj Allianz Life Insurance Co. Ltd. (BALICL) Bajaj Allianz General Insurance Co. Ltd. (BAGICL) are 26:74 joint ventures between two leading conglomerates - Allianz AG, one of the world’s largest insurance companies, and Bajaj Auto, one of the largest two and three wheeler manufacturers in the world.
BAGICL received the Insurance Regulatory and Development Authority (IRDA: the Indian insurance regulator) approval in May 2001 to conduct General Insurance business (including Health Insurance business) in India. Bajaj Allianz General Insurance offers products in all areas of general and health insurance and risk management. Within its first year of operations itself, the company had acquired the No. 1 status among the private non-life insurers. In the financial year 2003-04, BAGICL maintained its leadership position among private non-life insurers by garnering a premium income of USD 104.4 million. The company employs about 480 people and has 38 offices spread across the country.
BALICL received IRDA approval in August 2001 to conduct Life Insurance business in India. It is one of the fastest growing private sector life insurers in the country. The company has customer care centres in 155 cities. Currently the company has a product portfolio of 18 products and more are in the pipeline.
IBEF: July 12, 2005
Allianz is one of the leading providers of insurance and asset management products and services worldwide. The companies that make up Allianz Group have presence in property and casualty insurance, life and health insurance, asset management and banking. Founded in 1890 in Berlin, Allianz is now present in over 70 countries, employs about 174,000 and has over 60 million customers. In 2003, the Allianz Group was ranked 11th in the Fortune 500 list and had worldwide revenues of USD 114.9 billion.
An Allianz group company, Allianz Aktiengesellschaft Holding set up its liaison office in India in 1996.3 In India, Allianz is currently present in Life and General Insurance.
Bajaj Allianz Life Insurance Co. Ltd. (BALICL) Bajaj Allianz General Insurance Co. Ltd. (BAGICL) are 26:74 joint ventures between two leading conglomerates - Allianz AG, one of the world’s largest insurance companies, and Bajaj Auto, one of the largest two and three wheeler manufacturers in the world.
BAGICL received the Insurance Regulatory and Development Authority (IRDA: the Indian insurance regulator) approval in May 2001 to conduct General Insurance business (including Health Insurance business) in India. Bajaj Allianz General Insurance offers products in all areas of general and health insurance and risk management. Within its first year of operations itself, the company had acquired the No. 1 status among the private non-life insurers. In the financial year 2003-04, BAGICL maintained its leadership position among private non-life insurers by garnering a premium income of USD 104.4 million. The company employs about 480 people and has 38 offices spread across the country.
BALICL received IRDA approval in August 2001 to conduct Life Insurance business in India. It is one of the fastest growing private sector life insurers in the country. The company has customer care centres in 155 cities. Currently the company has a product portfolio of 18 products and more are in the pipeline.
crosss 50 lac policy mark
Bajaj Allianz Life Insurance crosses 50 lac policies
Mumbai 4th, October 2007: India's leading private life insurer, Bajaj Allianz Life Insurance Company crossed another major milestone and issued 50 lac (5 million) individual policies since inception in October 2001. Continuing the strong growth momentum this financial year, YTD have issued over 15 lac polices and collected over Rs 2500 cr in premiums.
Commenting on this achievement, Mr. Kamesh Goyal, Chief Executive Officer, Bajaj Allianz Life Insurance Company and Country Manager, Allianz said, "Since inception we have been focusing on reaching out to the masses across the country with wide range of flexible products & services to suit all segments of the society and this has helped us grow fast and build a strong brand name and customer franchise in such a short span of time."
Accelerated Growth
Financial Year
No. Of policies
2001-2002 (6mths)
21,376
2002-2003
115,965
2003-2004
186,443
2004-2005
288,189
2005-2006
781,685
2006- 2007
2,079,217
YTD 07-08
1,553,829
Since inception
5,026,704
About Bajaj Allianz Life Insurance:
Bajaj Allianz Life Insurance Company is the most profitable pvt. Sector life insurance Company in India for 06-07. With a pan India presence in over 850 + locations, Bajaj Allianz Life Insurance has already sold over 5 million policies. 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-annuation, 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), Care First, 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, New Family 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 over 25 flexible and simple products and more need-based products are in the pipeline
Mumbai 4th, October 2007: India's leading private life insurer, Bajaj Allianz Life Insurance Company crossed another major milestone and issued 50 lac (5 million) individual policies since inception in October 2001. Continuing the strong growth momentum this financial year, YTD have issued over 15 lac polices and collected over Rs 2500 cr in premiums.
Commenting on this achievement, Mr. Kamesh Goyal, Chief Executive Officer, Bajaj Allianz Life Insurance Company and Country Manager, Allianz said, "Since inception we have been focusing on reaching out to the masses across the country with wide range of flexible products & services to suit all segments of the society and this has helped us grow fast and build a strong brand name and customer franchise in such a short span of time."
Accelerated Growth
Financial Year
No. Of policies
2001-2002 (6mths)
21,376
2002-2003
115,965
2003-2004
186,443
2004-2005
288,189
2005-2006
781,685
2006- 2007
2,079,217
YTD 07-08
1,553,829
Since inception
5,026,704
About Bajaj Allianz Life Insurance:
Bajaj Allianz Life Insurance Company is the most profitable pvt. Sector life insurance Company in India for 06-07. With a pan India presence in over 850 + locations, Bajaj Allianz Life Insurance has already sold over 5 million policies. 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-annuation, 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), Care First, 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, New Family 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 over 25 flexible and simple products and more need-based products are in the pipeline
Sunday, November 11, 2007
bajaj got 63 cr. profit
NT Bureau
Chennai, July 13:
Bajaj Group company Bajaj Allianz Life Insurance has announced a profit of Rs 30 crore in the first quarter, compared to Rs 63 crore for the entire financial year 2006-07.
Bajaj Allianz, a part of Bajaj Financial Services, has recently been demerged from Bajaj Auto. 'Key to profitability is our strong base of wide and stable distribution network coupled with bouquet of flexible and simple products that appeal to customers across the country,' Bajaj Allianz Life's CEO Sam Ghosh said.
SBI Life made a mere profit of Rs two crore last year as compared to Rs 63 crore by Bajaj Allianz, he said. Bajaj Allianz annualised premium grew 86 per cent to Rs 658 crore during the Q1 while the total new business premium received in Q1 was Rs 729 crore, a company release said. Company registered a growth of 166 per cent in number of policies issued with 536,703 policies issued in Q1 as compared to 201,442 policies during the same quarter last year. Bajaj Allianz was the largest issuer of policies in the private sector in 2006-07 with two million policies sold. Currently, Bajaj Allianz has a product portfolio of 32 products and more need-based products are in the pipeline, the company said.
It has a customer base of close to 3.5 million customers and over 900 offices across the country.
Chennai, July 13:
Bajaj Group company Bajaj Allianz Life Insurance has announced a profit of Rs 30 crore in the first quarter, compared to Rs 63 crore for the entire financial year 2006-07.
Bajaj Allianz, a part of Bajaj Financial Services, has recently been demerged from Bajaj Auto. 'Key to profitability is our strong base of wide and stable distribution network coupled with bouquet of flexible and simple products that appeal to customers across the country,' Bajaj Allianz Life's CEO Sam Ghosh said.
SBI Life made a mere profit of Rs two crore last year as compared to Rs 63 crore by Bajaj Allianz, he said. Bajaj Allianz annualised premium grew 86 per cent to Rs 658 crore during the Q1 while the total new business premium received in Q1 was Rs 729 crore, a company release said. Company registered a growth of 166 per cent in number of policies issued with 536,703 policies issued in Q1 as compared to 201,442 policies during the same quarter last year. Bajaj Allianz was the largest issuer of policies in the private sector in 2006-07 with two million policies sold. Currently, Bajaj Allianz has a product portfolio of 32 products and more need-based products are in the pipeline, the company said.
It has a customer base of close to 3.5 million customers and over 900 offices across the country.
bajaj best option
BAJAJ ALLIANZ LIFE the New Leader in pvt sector insurance with 4 fold jump in new business
No1 Pvt. sector Life Insurance co. for this FY (Apr 05 - Jan 06 as per latest IRDA result ) with highest market share of 26.2% amongst pvt sector cos.
Fastest growing life insurance co. with over 4 fold growth
Mumbai, February 2006: Bajaj Allianz Life Insurance Company, the fastest growing life insurance company with over 4 fold growth, has consolidated its position in the Life Insurance industry and is now ranked 1st for new business segment market share as per the IRDA Results announced for the period of April ’05 to January ’06.
Bajaj Allianz life Insurance as per latest IRDA results recorded new business of over Rs 1680 cr for the period Apr 05 – Jan 06 a 4 fold jump over same period last year wherein the co. recoded Rs 406 cr new business. With this confidence and leadership Bajaj Allianz Life Insurance is well on it’s way to set new benchmarks in the industry.
Market Share as per IRDA (Apr 05 - Jan 06)
2005-06 ( April-Jan)
2004-05 ( Apr-Jan)
Growth
New Business
Rs Cr
1680
406
314%
Pvt sector Life Insurance Market Share
26.2%
12.3%
Life Insurance Industry Market Share ( Including LIC)
7.3%
2.7%
Key initiatives that attracted customers & jump-started this phenomenal growth -
Unique –one of it’s kind products – Various revolutionary products that the company had added to its long list of insurance products.
UnitGain Premier plan with 105% allocation, the UnitGain Super with its high allocation, the FamilyGain plan with unique 'Pure Fund' following ethical investment guidelines , the 6-in-1 HealthCare plan with standard premium for 3 years offering the customer a choice to claim benefits over and above the existing mediclaim, MahilaGain which covers unique risks faced by women.
Best returns on funds - Bajaj Allianz Life’s ULIP funds superlative performance enabled garnering more new business this financial year. The company’s ULIP funds were placed in ranked 1 st , 3 rd & 5 th position on the basis of maximum returns since its inception in the latest survey done by the leading personal finance magazine ‘ Outlook Money ‘. In the earlier survey 6 month ago in July the Bajaj Allianz Life Funds were ranked 1 st & 2 nd.
Easy access and reach across the country – Bajaj Allianz Life has offices now in over 510 towns across the country enabling customer to buy our products and get quality efficient service almost anywhere across the country
Highly trained Insurance consultants – Over 85,000 Insurance consultants to provide efficient service across the country for the customers. This year we had over 550 MDRT qualifiers ( last year we had only 120 MDRT qualifiers)
“It’s our constant endeavour to ensure that the products in our vast portfolio reach each and every one in the smallest town and remotest areas of this country. An innovative range of products ably supported by superior service and extensive distribution has catapulted Bajaj Allianz Life as leaders in new business generation and we only promise to grow further and consolidate our position in the top with renewed vigour in the next financial year.” says Mr. Sam Ghosh, Country Manager, Allianz & Chief Executive Officer, Bajaj Allianz Life Insurance Company.
No1 Pvt. sector Life Insurance co. for this FY (Apr 05 - Jan 06 as per latest IRDA result ) with highest market share of 26.2% amongst pvt sector cos.
Fastest growing life insurance co. with over 4 fold growth
Mumbai, February 2006: Bajaj Allianz Life Insurance Company, the fastest growing life insurance company with over 4 fold growth, has consolidated its position in the Life Insurance industry and is now ranked 1st for new business segment market share as per the IRDA Results announced for the period of April ’05 to January ’06.
Bajaj Allianz life Insurance as per latest IRDA results recorded new business of over Rs 1680 cr for the period Apr 05 – Jan 06 a 4 fold jump over same period last year wherein the co. recoded Rs 406 cr new business. With this confidence and leadership Bajaj Allianz Life Insurance is well on it’s way to set new benchmarks in the industry.
Market Share as per IRDA (Apr 05 - Jan 06)
2005-06 ( April-Jan)
2004-05 ( Apr-Jan)
Growth
New Business
Rs Cr
1680
406
314%
Pvt sector Life Insurance Market Share
26.2%
12.3%
Life Insurance Industry Market Share ( Including LIC)
7.3%
2.7%
Key initiatives that attracted customers & jump-started this phenomenal growth -
Unique –one of it’s kind products – Various revolutionary products that the company had added to its long list of insurance products.
UnitGain Premier plan with 105% allocation, the UnitGain Super with its high allocation, the FamilyGain plan with unique 'Pure Fund' following ethical investment guidelines , the 6-in-1 HealthCare plan with standard premium for 3 years offering the customer a choice to claim benefits over and above the existing mediclaim, MahilaGain which covers unique risks faced by women.
Best returns on funds - Bajaj Allianz Life’s ULIP funds superlative performance enabled garnering more new business this financial year. The company’s ULIP funds were placed in ranked 1 st , 3 rd & 5 th position on the basis of maximum returns since its inception in the latest survey done by the leading personal finance magazine ‘ Outlook Money ‘. In the earlier survey 6 month ago in July the Bajaj Allianz Life Funds were ranked 1 st & 2 nd.
Easy access and reach across the country – Bajaj Allianz Life has offices now in over 510 towns across the country enabling customer to buy our products and get quality efficient service almost anywhere across the country
Highly trained Insurance consultants – Over 85,000 Insurance consultants to provide efficient service across the country for the customers. This year we had over 550 MDRT qualifiers ( last year we had only 120 MDRT qualifiers)
“It’s our constant endeavour to ensure that the products in our vast portfolio reach each and every one in the smallest town and remotest areas of this country. An innovative range of products ably supported by superior service and extensive distribution has catapulted Bajaj Allianz Life as leaders in new business generation and we only promise to grow further and consolidate our position in the top with renewed vigour in the next financial year.” says Mr. Sam Ghosh, Country Manager, Allianz & Chief Executive Officer, Bajaj Allianz Life Insurance Company.
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