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April 18, 2015 3:49 PM ET

Insurance

Company Overview of Bajaj Allianz Life Insurance Company Limited

Company Overview

Bajaj Allianz Life Insurance Company Limited engages in the life insurance business in India. The company’s products include term plans, savings plans, investment plans, retirement plans, unit linked insurance plans, and group insurance plans. The company was incorporated in 2001 and is headquartered in Pune, India. Bajaj Allianz Life Insurance Company Limited is a subsidiary of Bajaj Finserv Limited.

GE Plaza

Airport Road

Yerawada

Pune,  411006

India

Founded in 2001

Phone:

91 20 6602 6777

Fax:

91 20 6602 6789

Key Executives for Bajaj Allianz Life Insurance Company Limited

Chief Executive Officer, Managing Director, Director, Member of Policyholders Protection Committee, Member of With Profit Committee, Member of Investment Committee and Member of Risk Management Committee
Head of Operations
Head of Business Procurement
Head of Alternate Channels
Head of Information Technology
Compensation as of Fiscal Year 2014.

Bajaj Allianz Life Insurance Company Limited Key Developments

Bajaj Allianz Life Insurance Appoints Vijay Sinha as Chief Marketing Officer

Bajaj Allianz Life Insurance Company Limited has brought on board Vijay Sinha as Chief Marketing Officer. He will be responsible for driving customer focus in the organisation, along with focusing on organisational strategy on marketing, customer service and retention. This is Sinha's second stint in Bajaj Allianz. He had earlier worked with the organisation for two years between 2001 and 2003 as Marketing Manager. Prior to joining Bajaj Allianz Life Insurance, Sinha was with Tata AIG Life Insurance for over 10 years and was last designated as Senior Vice President, Head - Premier Academy and Sales Force Automation, India. He had joined Tata AIG Life Insurance in 2004 as VP, Distribution Training. He has over 29 years of experience across marketing, agency sales, product development, corporate communications, sales training, and channel development.

Bajaj Allianz Life Insurance Company Limited Reports Unaudited Earnings Results for the First Quarter Ended June 30, 2014

Bajaj Allianz Life Insurance Company Limited reported unaudited earnings results for the first quarter ended June 30, 2014. For the quarter, the company reported gross written premium of INR 7,954.9 million against INR 8,841.3 million a year ago. Renewal premium was INR 4,020 million against INR 4,460 million a year ago. Profit was INR 2,860 million against INR 2,960 million a year ago. Profit after tax was INR 1,150 million against INR 1,150 million a year ago.

HP’s Plan To Sell MphasiS Stake May Take Time

Hewlett-Packard Company (NYSE:HPQ) (HP) may sell stake in MphasiS Limited (BSE:526299). According to senior official close to the matter, HP’s plan to sell 60.49% stake in MphasiS will take more time, as possible buyers including private equity players and IT-BPO service companies do not seem to be very keen. According to the news report, HP has approached bankers in order to sell its stake worth INR 53.7 billion. According to the report, HP spokesperson said the company ‘does not comment on rumor or speculation.’ A senior executive stated, “HP's initial plan was to take its stock holding in Mphasis to 90%, get it de-listed and leverage it more for its own outsourcing requirements.” Baring Private Equity Partners (India) Ltd., Life Insurance Corporation of India, Bajaj Allianz Life Insurance Company Limited, The India Fund, Inc. (NYSE:IFN), and Aberdeen Global -Indian Equity Fund, together own around 30% stake in MphasiS. Mphasis share price rose 3.65% on the Bombay Stock Exchange on July 2, 2014.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 20, 2014
ING Vysya Bank Limited
 

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