Bajaj Allianz Life posts over 3-fold jump over large base of last year

Mumbai, August 10, 2006: India's major private insurer, Bajaj Allianz Life Insurance, has reported over 3 fold jump in New Business for the first quarter as per IRDA results .New business premiums witnessed a significant jump to Rs 623 crores as compared to Rs 185 crore last year giving a growth of 236%.

Sam Ghosh, CEO Bajaj Allianz Life Insurance & Country Manager Allianz, commented ' Bajaj Allianz Life Insurance is providing value for money products and good safe returns on customer investments that has created a strong franchise with investors across the country. Our expansion in over 700 towns with our own offices has been a great success as the customers see this a strong long-term commitment and also get service at their door steps with wide range of value for money products to choose from. We have been consistently creating value for all our stake-holders, and with the introduction of new products we aim to further accelerate our growth & strengthen our market share and provide security & good returns for our customers.'

Bajaj Allianz Life has started the new FY with an excellent performance thereby continuing the growth story over the large base of last FY with same strength

Bajaj Allianz Life allround growth for Q1:

·        Rs 623 crore new business as per IRDA results

·        Over 750 offices now in 700 towns - addition of 150 new offices this quarter

·        Present in 434 district headquarters out of 586 district headquarters

·        47 % of the business is from satellite offices in semi urban & rural areas

·        Launched 7 new ULIPs as per the new IRDA guidelines