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SUPERAGENT
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Bajaj Allianz Life Insurance Company Limited logs in Rs. 250 Crores GWP growing @ 325% |
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--- 3rd Anniversary Release
Crosses total GWP for complete FY 2003-04 of Rs. 219 Crores in first 6 months of FY 2004-05
Highlights:
Bajaj Allianz Life records GWP of Rs. 250 Cr in just first six months of current financial year, crossing previous year’s total GWP of Rs. 219 Crores
Records Rs. 190 Crores First Year + Single Premium in first 6 months
Growth rate of 325%, faster than the industry growth rate
Provided below is a comparison of the company's performance in the current financial year & the last financial year, indicating the company's phenomenal growth:
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April – Sept’ 04 |
April– March ‘04 |
| Duration |
6 months |
12 months |
| Gross Written Premium (GWP) |
Rs. 250 Crores |
Rs. 219 Crores |
| First year Premium + Single Premium |
Rs. 190 Crores |
Rs. 179 Crores |
| Growth Rate (over previous year) |
325% |
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Mumbai, October 06, 2004: Bajaj Allianz Life Insurance Company Limited (BALIC) will complete 3 successful years of operations in India on October 09, 2004. In these 3 years Bajaj Allianz has moved on to become the fastest growing Life Insurance company in the country. With a Gross Written Premium of over Rs 250 crore, the company continues to maintain its rapid growth rate of 325%.
As per the latest IRDA results Bajaj Allianz has maintained the 3rd rank among the private life insurers in the country & are confident of moving up the ladder very soon. Bajaj Allianz Life Insurance Company Limited, a joint venture between Allianz AG, Germany & Bajaj Auto ltd., have deeply penetrated the market with its pan-India presence in over 225 cities & towns and a strong agency force of over 30,000 Insurance Consultants, making it one of the largest distribution reach across the country catering to over 3,95,000 satisfied customers.
Commenting on the occasion Mr. Ghosh said, "Last year we did Rs 219 Cr Gross Written Premium. We have crossed this milestone in the first half of this financial year. This indeed is a positive indicator of our growth & race towards the leadership position. Our various offices, 30,000 Insurance Consultants along with our bancassurance partners and corporate agents have tirelessly catered to the ever increasing demands of our valued customers & will continue to work in a similar manner to scale higher peaks of performance"
Pune based Bajaj Allianz uses some of the most advanced techniques in the fields of modern management, within their organization. The use of the "Six Sigma" & various online HR related practices have kept the employees of Bajaj Allianz motivated to push further the cause of the company. Bajaj Allianz has been instrumental in bringing global best practices to the Indian market under the leadership of Mr. Sam Ghosh, one of the most experienced professionals in the insurance industry.
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For further information, please contact:
Bhavesh Singhi / Namita Jadhav / Harsh Mehta
Corporate VoiceIWeber Shandwick
Tel: 022 22812960 / 22812957
Mobile: 9820761277 / 9820802228 / 9820547660 |
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