Share of term products will rise this yr: Bajaj Allianz Life Insurance CEO

Currently, the growth trend has not stalled but it may going forward, but life insurance as a sector will be one of the fastest growing sectors, says Bajaj Allianz Life Insurance CEO Tarun Chugh

After two Covid-marred years, life insurance firms are looking at a good year of growth in the current fiscal year. Tarun Chugh, managing director and chief executive officer, Bajaj Allianz Life Insurance, speaks with Subrata Panda on how the company fared in FY22, easing of supply-side constraints, and impact of increase in term prices on demand for such products. Edited excerpts:

How was FY22 for the comp­any and how do you see the current year panning out?

Last year was pretty good for the life insurance sector, and for us, it was, particularly, a brilliant year. We grew at 49 per