Bajaj Allianz General Insurance Company Limited
It is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.
Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct various businesses (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.
As on 31st March 2014 Bajaj Allianz maintained its premier position in the industry by achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 587 crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last two years. The profit after tax was Rs.409 crores, 39% higher than the previous year.
For more details on a summary of our financials, please click here.
For a copy of our Annual Report 2013-2014, Please click here.
Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's Investors Service for seven consecutive years. This rating indicates highest claims paying ability and a fundamentally strong position.
Bajaj Allianz General Insurance has been adjudged as the "Best General Insurance Company in the Private Sector" by ABP News - Banking, Financial Services Awards in the year 2014. The Company was awarded in the same category by Indian Insurance Awards in the year 2013, by Bloomberg UTV Financial Leadership Awards in 2012 and by CNBC TV18 India Best Bank and Financial Institution Award in 2012 and 2011.
Bajaj Allianz was conferred with the Golden Peacock Award 2014 in the category of Innovative Products/Service. It was awarded as "Claims Service Company of the Year" by the Indian Insurance Awards 2013, for its superior claims paying ability. In the same year Bajaj Allianz won an award for "Claims Innovation of the Year" in the Asia Pacific Region at the Claims Awards Asia 2013.
Click here for more information on the awards won by the Company.