Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited, one of India’s leading general insurance companies, is a joint venture between Bajaj Finserv Limited and Allianz SE. Bajaj Finserv holds a 74% stake and Allianz SE owns the 26% stake in the joint venture. Bajaj Allianz General Insurance started its operation after getting the certificate of registration from the Insurance Regulatory and Development Authority of India (IRDAI) on May 02, 2001. Headquartered in Pune, Bajaj Allianz General Insurance is one of the largest private insurers in the industry with offices in over 1100 towns and cities. The Company has continuously been expanding its operations to reach out to its customers.

The company has an authorized and paid-up capital of Rs 110 crores. Bajaj Finserv Limited holds 74%, and Allianz, SE owns the remaining 26%. The company registered a revenue growth of 15.6% to Rs. 12,833 crore, 28.1% increase in net profit to Rs 999 crore over the last fiscal year as of 31st March 2020. Bajaj Allianz has earned several awards such as Best General Insurance Company of the Year in Asia (Asia Insurance Industry Awards), Insurer claims team of the year (Claims Award Asia 2014), General Insurance Provider of the Year Award (Money Today FPCIL Awards 2014), The non-life insurer of the Year Award at the Outlook Money Awards 2017, Finnoviti Award 2018, General Insurance Company of the year @ the Indian Insurance Summit and Awards 2018, Fintelekt Insurance Awards 2017, the Best BFSI Brands 2018 by the Economic Times & Planman Medi acknowledged Bajaj Allianz General Insurance as India’s Most Trusted Power Brand 2017. Bajaj Allianz General Insurance Company Ltd was called ‘Asia’s Most Valuable Brand’ by White Page International.

The Company registered strong financial results for the first quarter of FY 2020-21 by posting revenue of ₹ 2,289 crores for the period. The company’s net profit grew by 88% to ₹395 crore. Bajaj Allianz General Insurance also reported a healthy Combined Ratio of 97.6% and solvency of 280% for the period.