Financial services firm Bajaj Finserv Ltd on Monday (January 8) said its insurance arm, Bajaj Allianz General Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd have reported their third quarter premiums.
The gross direct premium underwritten by Bajaj Allianz General Insurance for December reached ₹1,425.10 crore, an impressive 18% increase year-on-year.
For Bajaj Allianz Life Insurance, the total new business premium for December amounted to ₹961.51 crore, contributing to a cumulative figure of ₹7,538.66 crore for the period between April and December 2023.
Breaking down the life insurance premiums for December, Bajaj Allianz Life reported ₹48.35 crore for individual single premiums. The individual non-single premium for the same month stood at ₹634.48 crore.
Further diversifying its portfolio, Bajaj Allianz Life Insurance also recorded a robust performance in the group single premium category, reaching ₹200.37 crore in December.
Shares of Bajaj Finserv Ltd ended at ₹1,696.55, down by ₹12.70, or 0.74%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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