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Introduction of Bajaj Allianz Life Insurance Company

Introduction of Bajaj Allianz Life Insurance Company

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Published by Girish Lundwani

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Published by: Girish Lundwani on Aug 02, 2011
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Page | 1
 Introduction of Bajaj Allianz Life Insurance Company
 
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Bajaj Allianz Life Insurance Company Limited is a joint venturebetween Allianz AG, one of the world's largest Life Insurancecompanies and Bajaj Auto, one of the biggest 2- &- 3 wheelermanufacturers in the world.
 
Bajaj Allianz is one of the fastest growingprivate Life Insurance Company in India. This has more than 1,200branches across country and deals in primarily unit linked,traditional, health, child and pension policies. Bajaj Allianz LifeInsurance Co Ltd was incorporated on 12th March 2001. Thecompany received the Insurance Regulatory and DevelopmentAuthority (IRDA) certificate of Registration (R3) No 116 on 3rdAugust 2001 to conduct Life Insurance business in India.Bajaj Allianz Shareholder Capital Base stands at Rs. 500 crore withBajaj Auto Limited and Allianz AG of Germany holding 74%and26%stake respectively. It is the largest private player in theInsurance Industry in India with a market share of around34%amongst the private companies and second to LIC. The total marketshare of Bajaj Allianz as of 31st March 2006 is at 12%.
 
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 About Allianz
Allianz
(formerly AG, FWB: ALV, NYSE: AZ) is one of the largestfinancial services providers in the world, headquartered in Munich,Germany.Its core business and focus is insurance. With ½92.5 billion of revenueduring 2008, Allianz is the second largest international insurance andfinancial services organization in the world.Allianz has sold Dresdner Bank to Commerzbank, largely for shares inNovember 2008. As a result of this merger, Allianz gained a 14%controlling stake in the new Commerzbank Group.Allianz Global Investors ranks as a top-five global active investmentmanager, having ½1443 billion of assets under management (AuM), of which ½1131 billion are third-party assets (as of 2010-09-30), withspecialized asset managers such as PIMCO (Bond fund), RCM(Equityfund), AAAm(Fund of Hedge fund), Degi(Real estate fund), etc.
 
Allianz is now present in more than 70 countries with over 180,000employees. At the top of the international group is the holdingcompany, Allianz SE, with its head office in Munich. Allianz Groupprovides its more than 60 million customers worldwide with acomprehensive range of services in the areas of ‡ property and casualty insurance,‡ life and health insurance,‡ asset management and banking.
 
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About Bajaj auto
Bajaj Auto Limited is the largest manufacturer of two andthree-Wheelers in India and also one of the largest manufacturersin the world.Bajaj Auto has been in operation for over 55 years. As apromoter of Bajaj Allianz General Insurance Company Ltd., Bajaj Autohas theFollowing to offer:
y
 
Vast distribution network.
y
 
K
nowledge of Indian consumers.
y
 
Financial strength and stability to support theinsurance business.
 

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