Bajaj Allianz Life Insurance, a joint venture between the Bajaj group (Bajaj Finserv) and Allianz, is expecting capital infusion of around Rs 500 crore from its promoters this fiscal. The company''s current capital base stood at Rs 1,210 crore which would be further hiked by around Rs 500 crore.
Bajaj Allianz Life reported a net loss of Rs 19 crore in the last fiscal and the company hopes to wipe out its earlier losses by bringing down expenses. At present, ULIPs contribute 95 per cent of the company''s business and its funds under management stand at Rs 14,000 crore. On June 12, Bajaj Allianz Life forged alliance with Thomas Cook for the distribution of life insurance policies. As a corporate agent, Thomas Cook will sell Bajaj Allianz''s products across its 160 retail branches.
Bajaj Allianz Life reported a net loss of Rs 19 crore in the last fiscal and the company hopes to wipe out its earlier losses by bringing down expenses. At present, ULIPs contribute 95 per cent of the company''s business and its funds under management stand at Rs 14,000 crore. On June 12, Bajaj Allianz Life forged alliance with Thomas Cook for the distribution of life insurance policies. As a corporate agent, Thomas Cook will sell Bajaj Allianz''s products across its 160 retail branches.
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