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Bajaj Allianz General Insurance

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Bajaj Allianz General Insurance Company Limited
Company typeJoint venture
IndustryFinancial services
Founded2001; 23 years ago (2001)
HeadquartersPune, India
Area served
India
Key people
Tapan Singhel (MD & CEO)[1]
ProductsGeneral insurance
Health Insurance
Vehicle insurance
Travel Insurance
Life insurance
Revenue₹12,430 crore (US$1.5 billion) (2020)[2]
₹998 crore (US$120 million) (2020)
ParentBajaj Finserv
Allianz SE
Websitewww.bajajallianz.com

Bajaj Allianz General Insurance is a private general insurance company in India.[3] The company is a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE, a German financial services company.

History

Bajaj Allianz General Insurance received an Insurance Regulatory and Development Authority of India (IRDAI) certificate of registration on 2 May 2001 to conduct general insurance business, including health insurance, in India. In the first year of its operations the company had 36 offices and around 100 employees. The company started its operations with a paid up capital of ₹1.10 billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE. Bajaj Allianz is headquartered in Pune with offices in over 200 cities in India and more than 3,500 employees as of 2018.[4]

The Company lists 97 filed and approved products, of which 27 are health products.[5][6]

In January 2014, the company announced it would open up all-women branches. As of 2015, the company has 30 such branches in India.[7]

In February 2019, company started new brand named "Caringly Yours".[8][9]

References

  1. ^ "Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance". India Today. 3 September 2015.
  2. ^ "Annual-Report_BAGIC_2020" (PDF). Bajaj Allianz General Insurance Co.Ltd. Retrieved 15 May 2020.
  3. ^ Bajaj Finserv justifies the rise in share price
  4. ^ "About Bajaj Allianz General Insurance". Retrieved 2 December 2015.
  5. ^ "Bajaj Allianz Health Insurance Products". Bajaj Allianz General Insurance.
  6. ^ "Bajaj Allianz Product Category". Retrieved 2 December 2015.
  7. ^ "Behind Bajaj Allianz General Insurance launching its all-women branch".
  8. ^ "Bajaj Allianz unveils new brand identity 'Caringly Yours' - Exchange4media". Indian Advertising Media & Marketing News – exchange4media. Retrieved 26 November 2019.
  9. ^ "'Caringly Yours': Bajaj Allianz unveils new brand identity with a new tag line". The Financial Express. 15 February 2019. Retrieved 26 November 2019.
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