Bajaj finserv Ltd on Thursday (March 6) said its unlisted insurance subsidiaries, Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, have reported their premium collections for February 2025, as submitted to the Insurance Regulatory and Development Authority of India (IRDAI).
Bajaj Allianz General Insurance Company recorded a gross direct premium of ₹1,219 crore for February 2025, taking the total premium underwritten up to February 2025 to ₹20,006 crore.
Bajaj Allianz Life Insurance Company reported new business premiums of ₹1,080.33 crore for February 2025. The total new business premium collected from April 2024 to February 2025 stood at ₹10,469.77 crore.
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For February 2025, the company registered ₹47.67 crore in individual single premiums and ₹608.20 crore in individual non-single premiums. The group single premium segment contributed ₹406.17 crore, while group yearly renewable premiums added ₹18.29 crore. There were no contributions under group non-single premiums for the month.
From April 2024 to February 2025, individual single premiums totalled ₹582.11 crore, and individual non-single premiums amounted to ₹5,879.70 crore. Group single premiums reached ₹3,472.25 crore, while group yearly renewable premiums stood at ₹535.71 crore.
Q3 numbers
Bajaj Finserv’s net profit rose by 3.4% to ₹2,231 crore in the third quarter of FY25, compared to ₹2,158 crore in the same quarter last year. The company’s revenue increased by 10%, reaching ₹32,042 crore, up from ₹29,038 crore a year ago.
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The company reported a 28% rise in assets under management (AUM), reaching ₹3,98,043 crore as of December 31, 2024, compared to ₹3,10,968 crore a year earlier. This includes ₹1,08,314 crore in AUM from Bajaj Housing Finance, which saw a 26% growth over the previous year.
The gross non-performing assets (GNPA) stood at 1.12%, while the net NPA was at 0.48% as of December 31, 2024, up from 0.95% and 0.37%, respectively, in the same period last year.
Shares of Bajaj Finserv Ltd ended at ₹1,845.15, up by ₹43.15, or 2.39%, on the BSE.
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