Bajaj Finserv said that its subsidiary, Bajaj Allianz General Insurance Company recorded gross direct premium underwritten for December 2024 of Rs 1,330.9 crore, marking a 6.61% decrease compared to the same period last year (YoY).
Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 1,054.82 crore for the month of December 2024, up 9.70% as against Rs 961.51 crore recorded in the same period a year ago.Individual non-single premium were at Rs 648.28 crore (up 2.17% YoY) in December 2024. Individual single premium amounted to Rs 39.21 crore (down 18.90% YoY) and Group yearly renewable premium added up to Rs 55.36 crore (down 29.03% YoY) in the month of December 2024. However, Group single premium jumped 55.69% YoY to Rs 311.97 crore during the period under review.
Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
The companys consolidated net profit increased 8.9% to Rs 2,086.97 crore on 29.52% jump in total income to Rs 33,703.74 crore in Q2 FY25 over Q2 FY24.
The scrip shed 0.49% to Rs 1,676.15 on the BSE
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