Bajaj Allianz infuses Rs 70.8 cr for aggressive growth

Kolkata, Dec 09: Bajaj Allianze Life Insurance Company, one oflargest private sector life insurances, received a fresh capitalinfusion of Rs 70.8 crores to continue this high impact growth andquality service across the country.

The infusion has taken its total capital to Rs 570 crore.

With its own offices in more than 900 towns it has managed tosustain its growth pattern by making available insurance services inevery nook and corner of India for all class of customers, a companyrelease said.

Bajaj Allianz Life has already crossed US $ 1 billion (Rs 5000 cr)of new business in the 5 years of it's operations and over 1.9 millionpolicies already sold.

According to Mr Sam Ghosh, Country Manager, Allianz and chiefExecutive Officer they were confident of doing new business of US $ 1billion in this financial year.

Its current tie-up with Godrej Aadhaar rural Malls, district andrural co-op banks and seven Regional Rural Banks of Syndicate Bank hadmade Bajaj Allianz Life insurance's products available in over 1200branches in the rural areas.

UNI