Gross direct premium underwritten in the current financial year up to December 2023 stood at Rs 15,540.13 crore, up 33.87% YoY.

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 961.51 crore for the month of December 2023, up 3.52% as against Rs 928.79 crore recorded in the same period a year ago.

Individual non-single premium were at Rs 634.48 crore (up 20.76% YoY) in December 2023. However, Individual single premium amounted to Rs 48.35 crore (down 25.68% YoY), Group single premium aggregated to Rs 200.37 crore (down 13.84% YoY) and Group yearly renewable premium added up to Rs 78.31 crore (down 25.97% YoY) in the month of December 2023.

For the period from April 2023 to December 2023, Bajaj Allianz's total premium was Rs 7,538.66 crore, up 1.31% from Rs 7,440.94 recorded in the similar period last fiscal.

Bajaj Finserv is the holding company for the various financial services businesses under the Bajaj group. It participates in the financing business through its 52.45% holding in Bajaj Finance and in the protection business through its 74% holding in two unlisted subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company.

The company's consolidated net profit surged 23.89% to Rs 1,928.96 crore on a 25.09% increase in total income to Rs 26,022.66 crore in Q2 FY24 over Q2 FY23.

Shares of Bajaj Finserv were higher 0.57% to Rs 1,706.30 on the BSE.