Gross direct premium underwritten in the current financial year up to August stood at Rs 9,228.81 crore, up 39.47% year on year.

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 926.41 crore for the month of August 2023, up 38.47% YoY as against Rs 669.02 crore recorded in the same period a year ago.

Individual single premium amounted to Rs 57.62 crore (up 24.05% YoY), Individual non-single premium were at Rs 479.33 crore (up 33.59% YoY), Group single premium aggregated to Rs 475.30 crore (up 58.01% YoY) and Group yearly renewable premium added up to Rs 23.02 crore (down 28.45% YoY) in the month of August 2023.

For the period from April 2023 to August2023, Bajaj Allianz's total premium was Rs 3,828.06 crore, down 14.58% from Rs 4,481.63 recorded in August 2022.

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 48.36% to Rs 1,942.63 crore on a 46.5% increase in total income to Rs 23,279.98 crore in Q1 FY24 over Q1 FY23.