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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.