Private common insurer Bajaj Allianz reported net profit for the quarter ended September stood at ₹468 crore, a rise of 39.3% over the 12 months precedent days.
Gross written premium (GWP), or income, elevated 52.6% to ₹7,298 crore. The firm mentioned it registered trade main gross direct premium earnings (GDPI) development at 53.6%. This was greater than double the expansion price of personal insurers at 21.1% and likewise surpassed standalone insurers at 24.2%, Bajaj Allianz General Insurance mentioned.
“By fortifying our distribution network, collaborating on government and crop insurance schemes, and crafting a well-rounded business strategy across all lines of business, has led to this remarkable growth, surpassing industry standards,” mentioned MD & CEO Tapan Singhel.
