Bajaj Allianz General Insurance on Thursday said its profit remained flat at Rs 1,339 crore for the 2021-22 financial year against Rs 1,330 crore in the previous financial year. Gross written premium of the company during the financial year rose by 9 percent to Rs 13,788 crore compared to Rs 12,624 crore a year ago.
The company recorded its highest-ever gross written premium and profit after tax in FY22, Bajaj Allianz General Insurance said in a statement. The company's solvency ratio stood at 344 percent, which is above the regulatory requirement of 150 percent, hence a strong indication of their claim paying capability.
Asset under management (AUM) of the company increased to Rs 24,633 crore at the end of March 2022 against Rs 23,150 crore in FY21, it said. Commenting on the results, Bajaj Allianz General Insurance CEO Tapan Singhel said: “A deep focus on customer centricity and our obsession with making our customers feel special is what gives us the results that we are able to put forth, where our growth and profitability are best in class."
