Bajaj Allianz Life Insurance has posted impressive results for Q2FY25, with a robust 34% growth in Individual Rated New Business (IRNB), reaching INR 1,895 crores, compared to INR 1,415 crores in the same period last year. The company’s Gross Written Premium (GWP) saw a significant 23% increase, rising from INR 5,338 crores in Q2FY24 to INR 6,544 crores in Q2FY25, further highlighting its strong performance in the insurance sector.
The company also reported an increase in Assets Under Management (AUM), which surged by 25% to INR 1,23,178 crores as of 30th September 2024. In terms of market share, Bajaj Allianz Life expanded its private sector share to 8.9%, with an overall industry share of 6.1%, driven by its broad distribution channels and ongoing efforts to raise insurance awareness across India.
In Guwahati, Bajaj Allianz Life’s growth reflects the increasing demand for life insurance products, as consumers in the region show heightened awareness of financial security. The company’s strong distribution network, including 562 branches and 1.59 lakh agents, has enabled it to tap into both urban and rural segments in Assam, contributing to its overall growth. The expansion of digital platforms further strengthens the company’s presence in the Northeast, ensuring wider accessibility and customer engagement.