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)
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