By
Samachar Digital News
Chandigarh
05th December:-
Bajaj Allianz Life
Insurance Company Ltd., one of the leading private life insurers of the country
achieved its new milestone in Punjab by registering a stellar growth of
72% in individual new business premium for the period H1FY2018-19. The
individual new business premium was recorded at Rs 25 crore for H1FY2018-19 as
compared to Rs 15 crore for the same period last year. In Haryana too, the
company witnessed a 31% growth in the individual new business premium from Rs
11 crore for H1FY2017-18 to Rs 15 crore for H1FY2018-19.
The
company holds a strong presence in North India and has
been one of the leading private life insurers in the region. For H1FY2018-19,
the life insurer has covered 7,231 number of lives in Punjab and 14,804 in
Haryana. Its average
ticket size in Punjab witnessed a 58% growth from Rs 68,722 to Rs 108,300
(including single premium policies) in H1FY2018-19. In Haryana too, Bajaj Allianz Life
Insurance recorded a 10% growth in its average ticket size from Rs 51,187 to
Rs 56,141 for the same period.
Speaking to the media during his visit to the
state, Manish Sangal, Chief Agency Officer, Bajaj Allianz Life Insurance
Company, said that Bajaj Allianz Life Insurance has taken several initiatives
this year towards insuring the life goals of customers. These include
introducing innovative and value-packed products, technological interventions
to further increase customer delight, and expanding our customer touch-points.
We are confident that these initiatives will enable many more people to enjoy
the living benefits of life insurance, and help us strengthen our market position
as life goal enablers.
Commenting on the region, he added that Punjab and
Haryana continue to be our key markets, clocking a healthy growth over the
years. We will further strengthen our presence in the states to insure the life
goals of many more Indians.
Bajaj
Allianz Life Insurance continues to grow at a faster rate than
the industry with a 12.7%
uptick in the individual rated new business premium,
while the industry
grew by 9.9% and the private life insurers’ growth stood at 11.4% in
H1FY2018-19.
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