Bajaj Allianz General Insurance completes 20 years

It has 9,000 employees across 1,000 locations pan India.

Hyderabad: Bajaj Allianz General Insurance, a private general insurer, completed 20 years of its operations on May 2. The company has a revenue of Rs 12,624 crore in FY 20-21. It has about 11 crore customers.

It has 9,000 employees across 1,000 locations pan India and has more than 80,000 agents and about 240 bancassurance partners. It also has 9,000 motor dealer partners.

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It is also associated with motor manufacturers, brokers, web aggregators, and major e-commerce platforms. It also is a part of schemes like Pradhan Mantri Jan Arogya Yojana, Pradhan Mantri Fasal Bima Yojana, Restructured Weather Based Crop Insurance Scheme, and others.

Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance said, “We will continue to work towards increasing the penetration of insurance by being available at every touchpoint. Our aim is to bring in more people under the ambit of insurance.”

In FY 20-21, the company reported a profit after tax of Rs 1,330 crore and an underwriting profit of Rs 237 crore. The solvency ratio of the company stood at 345 percent.

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE, leading insurer and asset manager. It offers motor insurance, home insurance, health, wedding, event insurance and film insurance, a release said.

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