Chandigarh 06th August:- Bajaj Allianz Life Insurance Company, one of India’s leading private life insurers, achieved a milestone by registering 45% growth in New Business Premium in the Punjab region in Q1 FY18-19 over the corresponding period of the last fiscal. The total sum assured has also witnessed a growth of 39% in the Q1 of the current year.
In Punjab the total number of policies stood at 1,137, registering a 13% growth as compared to 1,007 in Q1 FY17-18. In the region, the insurance company has also seen a 19% increase in its number of lives covered to 1,137 as against 954 in Q1 FY18.
Commenting on the growth achieved by the company in the region, Bajaj Allianz Life’s MD and CEO Tarun Chugh said that our growth in the region is a testimony of the faith our customers have reposed on us. Punjab is a key market for us, and through innovative products, and customer friendly technology we will continue to offer life insurance solutions for our customers, to help them achieve their life goals. We are targeting affluent customers and continuously investing in our technology, training and outreach programs to help us reach these customers in a better manner, as well as further delight our existing partners and customers.