Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 689.09 crore for the month of April 2024, up 25.2% as against Rs 550.40 crore recorded in the same period a year ago.
Individual non-single premium were at Rs 43.90 crore (up 23.38% YoY) in April 2024. However, Individual single premium amounted to Rs 328.50 crore (up 22.18% YoY), Group single premium aggregated to Rs 193.34 crore (up 53.8% YoY) and Group yearly renewable premium added up to Rs 28.58 crore (up 2.59% YoY) in the month of April 2024.
Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.
The company's consolidated net profit jumped 20% to Rs 2118.53 crore in Q4 FY24 as compared with Rs 1768.95 crore in Q4 FY23. Total income increased 35.63% YoY to Rs 32041.93 crore in Q4 FY24.
The scrip added 0.21% to currently trade at Rs 1,615 on the BSE.
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