If you have seen all the news items about ULIPs, other life insurance products, etc. you might have suddenly thought that life insurance business is not profitable. Banish that thought. It is very profitable – why do you think all foreign players are trying to get in?
So here is the reason:
Cost effective distribution management propels Bajaj Allianz to emerge as one of the most profitable insurer in FY 09-10
– Bajaj Allianz Life Insurance posts profit of Rs. 427 crores in the financial year 2009-10
– Bajaj Allianz General Insurance posts a profit of Rs. 121 crores in the financial year 2009-10
– GWP for Bajaj Allianz General stood at Rs. 2516 crore while for Bajaj Allianz Life, GWP stood at Rs. 11,420 crore
– Investments for Bajaj Allianz Life Insurance was Rs. 33,422 crore, which is an increase of 95 %
IRDA has a lot of work to do.
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