Bajaj's General Insurance Unit Pips Life Insurance Arm In Premium Collection For August

Bajaj Finserv Ltd.'s unlisted insurance subsidiaries, Bajaj Allianz General Insurance Co. and Bajaj Allianz Life Insurance Co., have reported their insurance premium figures for August.

According to a filing submitted to the Insurance Regulatory and Development Authority of India, Bajaj Allianz General Insurance underwrote a gross direct premium of Rs 1,736 crore for August. The cumulative gross direct premium for the period from April to August stands at Rs 8,868 crore.

As for Bajaj Allianz Life Insurance, its collection in new business premiums totalled to Rs 953 crore for August. From April to August, the life insurance arm registered total new business premiums of Rs 4,688 crore.

Shares of the company closed 0.42% lower at Rs 1,857.15 per share, compared to a 1.17% decline in the NSE Nifty 50.