Bajaj Allianz Life Insurance Company has witnessed Rs 3 crore loss in the first quarter of ''08-09, against a profit of Rs 31 crore in the previous year. It''s new business premium grew by 16 per cent at Rs 764 crore (Rs 658 crore). Due to an increase in underwriting losses, Bajaj Allianz General Insurance Company Ltd''s profit after tax fell by 46 per cent in the first quarter to Rs 7 crore, against Rs 13 crore in the corresponding quarter the previous year. The company has an underwriting loss of Rs 24 crore, against a profit of Rs 3 crore in the corresponding period last year.
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