Bajaj Allianz General Insurance Company Limited
It is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise, stability and strength.
Bajaj Allianz received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2nd May, 2001 to conduct various businesses (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.
As on 31st March 2015 Bajaj Allianz maintained its premier position in the industry by achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 777 crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last two years. The profit after tax was Rs.562 crores, 39% higher than the previous year.
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Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's Investors Service for seven consecutive years. This rating indicates highest claims paying ability and a fundamentally strong position.
Bajaj Allianz General Insurance was adjudged as the "Best General Insurance Company in Asia" by Asia Insurance Industry Awards 2014. The award was bestowed on the company for its outstanding customer service levels, innovations in the field of insurance, and sound financial management which resulted in consistent profitability over the years. The Company was also conferred the 'Insurer Claims Team of the year' by Claims Awards Asia 2014. Bajaj Allianz was recognized as the 'Best Insurance Company of the Year' by ABP News BFSI awards 2015. The company was awarded 'General Insurance Provider of the Year' by Money Today FDCIL awards 2014.
For the third time in a row, the company was awarded the Allianz Global Innovation Awards 2015 for Excellence in Employee Business, and was also recognized as a Legend in the BFSI Industry by Brand Vision India 2020 Awards. Bajaj Allianz General Insurance was conferred the Brand Excellence Award in Non-Life Insurance (Private Sector) by ABP News Brand Excellence Award 2014 and the Golden Peacock Award 2014 in the category of Innovative Products and Service.
Click here for more information on the awards won by the Company.