Bajaj Allianz Life Insurance Co Ltd is a unique joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength. With over 115 years of financial experience, Allianz SE is present in over 70 countries around the world.
As on 31st March 2010, Bajaj Allianz General Insurance maintained its premier position in the industry by achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 180 crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last four years. The profit after tax was Rs. 121 crores, 27% higher than the previous year.
Bajaj Finserv Limited
The financial services and wind energy businesses were transferred to Bajaj FinServ Limited (BFS) as part of the recently concluded demerger of Bajaj Auto Limited, approved by the Hon. High Court of Judicature at Bombay by its order dated December 18, 2007. The demerger is effective from the Appointed Date i.e. closing hours of business on March 31, 2007.
Bajaj FinServ will strive to be one of the top financial services businesses in India focused on delivering superior customer experience through competitive products and class leading services while providing consistent and superior returns to our shareholders and maintaining the high levels of integrity of Bajaj.
Allianz is one of the largest financial services providers in the world, headquartered in Munich, Germany. It is the Allianz Group’s holding company.Allianz SE operates and manages its activities primarily through four operating segments: Property-Casualty, Life/Health, Asset Management, and Corporate and Other.
Its core business and focus is insurance. With €92.5 billion of revenue during 2008, Allianz is the second largest international insurance and financial services organization in the world. Allianz Global Investors ranks as a top-five global active investment manager. It offers life and health insurance products on individual and group basis. It acts as a global provider of institutional and retail asset management products and services to third-party investors.