Bajaj Allianz Life Insurance Company Ltd

The NFO of Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund will close on September 15

Bajaj Allianz Life Insurance on Wednesday said its assets under management has surpassed the Rs 1 lakh crore mark. The Pune-based leading private sector life insurance player in a statement said this makes them one of the fastest growing life insurers among the top-10 players and the AUM touching Rs 1 lakh crore reflects a 1.8 times growth from Rs 56,085 crore in FY20. Bajaj Allianz Life Managing Director and Chief Executive Tarun Chugh said this is a milestone and is a testament to the trust that the customers have in the company. In the last three years till August 2023, the company has grown exponentially with the individual new business annual premium equivalent growing at 41.3 per cent at a compounded rate as against the industry growth rate of 13.5 per cent and the private sector's 22.4 per cent. This significant growth revival has helped the company achieve the Rs 1,00,000 crore AUM milestone. At an overall industry level, the market share of Bajaj Life has almost doubled f

Bajaj Allianz Life ACE - Increasing Income provides life cover with tax benefits and allows flexibility in determining policy terms, ranging from 10 years to 100 years of age

The proceeds of the issue will be primarily used to meet the needs of the growing business of the bank, including long-term capital requirements

However, supplement this plan with an individual term policy for enhanced security

The Irdai has, effective April 1, removed separate limits for commissions and has imposed an overall ceiling on operating expenses and commissions

In a Q&A, Tarun Chugh dwells on how his firm became the fastest growing in its space, recent Irdai initiatives, and the company's future plans

Despite the multiple COVID waves, the earnings for FY22 have not seen any significant downgrades and are on-course to deliver about 25 per cent growth

The key risk to markets would be more domestic in nature due to the second Covid wave, which may impact the pace of economic recovery, Sampath Reddy, CIO, Bajaj Allianz Life Insurance said

Recognising that customers have their own concerns, he said the company is equally taking care of its own employees during this lockdown

Move follows healthy 38% growth in Pune set-up; company to pilot new initiative in 14 sites in Maharashtra