Bengaluru, June 13, 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurance providers, expresses its deepest condolences to the families affected by the tragic aircraft crash in Meghani Nagar area of Ahmedabad on June 12, 2025. In response to this unfortunate incident, the Company has activated special measures to assist families of its policyholders affected by the crash.

Understanding the immense challenges faced by the affected lives assured’s families during this difficult time, Bajaj Allianz Life Insurance has established a dedicated special claims settlement desk to prioritize the processing of death and disability claims for its customers impacted due to this tragedy. With utmost urgency, an expeditious process has been established to swiftly settle these policy claims.

To simplify the process, Bajaj Allianz Life Insurance has listed a minimal documentation process that nominees, legal heirs or policyholders need to submit to process their claims. In case the Death Certificate is not immediately available, a certificate issued by the municipal authority or hospital will also be accepted to initiate the claim process along with nominee KYC and bank mandate. Claims can be notified, and details can be submitted through any of the following convenient modes:

• Call the company’s toll free number 1800-209-7272
• Visit one of the nearest branches among the 596 branches across the country
• Email at: claims@bajajallianz.co.in

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Bengaluru, April 10, 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has launched Bajaj Allianz Life Superwoman Term (SWT), a comprehensive protection solution exclusively for women. This pioneering solution goes beyond traditional life insurance, offering financial security with term insurance benefits, critical illness benefits covering women specific conditions, an optional child care benefit, and health management services, ensuring holistic protection for women and their families.

Women excel at taking care of their families, and their own financial security should be just as strong. Bajaj Allianz Life Superwoman Term helps them stay financially independent, supports them in securing their life goals by providing financial confidence and stability at every stage of their journey. Key features of the plan include:

• Comprehensive Financial Security through term insurance: Understanding the evolving roles of women and their unique financial needs, SWT provides a lumpsum payout to the nominee on death of the life assured to secure the financial future of dependents.
• Critical Illness (CI) Protection: With the CI rider, SWT offers coverage against 60 major critical illnesses, including women-specific conditions such as breast, cervix, and ovarian cancers. This ensures they can focus on their treatment without the added stress of financial worries during a time when it matters the most.
• Child Care Benefit: Recognizing the importance of securing a child’s future, the plan also offers an optional child care benefit—being launched for the first time with SWT—that ensures a steady monthly income to support the child’s education in case of an unfortunate event.
• Health Management Services (HMS): Going beyond financial protection, the plan offers complimentary HMS covering comprehensive health check-ups, OPD consultations, pregnancy-related support, emotional wellness programs, and nutritionist guidance—a feature that underscores the company’s commitment to women’s overall well-being.

Mr. Tarun Chugh, MD & CEO at Bajaj Allianz Life Insurance, said, “The women of today are prioritising their health, children’s well-being and financial independence. Providing them with a single financial solution to meet these key needs is our main goal with our latest solution – Bajaj Allianz Life Superwoman Term. It’s designed to empower women with the financial confidence as they march ahead to meet their own personal goals. The comprehensive solution can be customised to the varied needs of our women customers – from managing their own health needs or securing the future of their children or loved ones.”

In addition, Bajaj Allianz Life has strengthened its product portfolio over the years with a strong suite of term offerings like Bajaj Allianz Life eTouch II (A Non-linked Non- Participating Individual Life Insurance Term Plan) – designed exclusively for salaried individuals. Bajaj Allianz Life iSecure II (A Non-Linked, Non-Participating, Individual Life Insurance Term Plan) – a dedicated term plan for self-employed professionals. Bajaj Allianz Life Diabetic Term Plan II Sub 8 HbA1c (A Non-linked, Non-Participating, Individual, Pure Risk Premium Life Insurance Plan)  – India’s first term plan specially for individuals with diabetes. Bajaj Allianz Life Invest Protect Goal III (A Unit-linked Non-Participating Individual Life Savings Insurance Plan) – a distinctive solution that combines high life cover with the opportunity for market-linked returns. The portfolio includes an array of products catering to diverse customer segments. The Company continues to uphold its commitment to reliability with a 99.23% claim settlement ratio (Individual Death Claim Settlement Ratio for FY 2023-2024) and a solvency ratio of 432% (as on 31st March 2024). With its innovative and customer-centric approach, Bajaj Allianz Life remains at the forefront of addressing the protection needs of its evolving customers.

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Bengaluru, 25 March 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has released a comprehensive study titled ‘Underinsurance Survey 2025’, conducted in collaboration with NielsenIQ. The survey covered 2,000 individuals across metro, tier 1, and tier 2 cities, assessing life insurance coverage levels and identifying gaps in financial protection. The findings highlight the current state of life insurance in India and the key factors influencing purchasing decisions.

The survey reveals a significant shift in life insurance trends, with the average age of first-time buyers dropping from 33 to 28 years. Family responsibilities, income levels, and health concerns emerged as key drivers for insurance adoption. Notably, 81% of respondents believed that life insurance coverage of less than 10 times their annual income was sufficient for financial security. However, the actual coverage figures tell a different story—in urban areas, the average life cover stood at 3.1X times annual income, dropping to 2.9 times for Mass Affluent and Affluent families respectively.

Speaking on the survey findings, Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, India, despite being one of the world’s fastest-growing economies, has a total sum assured at just 70% of GDP—significantly lower than countries like the US (251%), Thailand (143%), and Malaysia (153%), highlighting a critical protection gap. This shortfall can leave families financially vulnerable, forcing them to dip into savings or liquidate assets in times of crisis, which can derail their life goals. To truly safeguard one’s loved ones, it’s essential to assess coverage needs holistically—factoring in income, liabilities, and future aspirations. A simple rule of thumb is to have life cover at least 10 times one’s annual income, ensuring financial security when it matters most.

“Our Underinsurance Survey 2025 highlights this gap. Along with IRDAI and the industry, we will continue to take firmer steps to drive awareness, enhance product transparency, and improve accessibility. A robust digital and tech-enabled service ecosystem will be key in bridging this gap. Together, we can move closer to achieving the vision of ‘Insurance for All by 2047”

Key Findings of the Survey

• Perception vs. Reality: Indians believed they had coverage of 6.4 times their income, but the actual coverage averaged just 3.1 times, highlighting a major gap in financial preparedness.
• Lack of coverage reviews: Over one in three Indians have never reviewed their life insurance coverage, even after major life events. This number rises to 43% among self-employed and affluent individuals, putting them at higher risk of underinsurance.
• Confidence in coverage: While younger individuals are purchasing insurance earlier, the 46-50 age group, which typically bought policies at age 33, expressed low confidence in their sum assured, reflecting ongoing uncertainty about coverage adequacy.
• Key factors for determining coverage: Family responsibilities, higher income, and health concerns were the top three considerations for individuals when deciding on life insurance coverage.
• Source of information: 46% of Indians rely on personal research for life insurance decisions, emphasizing a preference for self-directed learning. However, major life events are often overlooked when reassessing coverage needs.

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Bengaluru, 4^th February, 2025: Bajaj Allianz Life Insurance, one of India’s leading private life insurer, today announced the launch of its new index based fund – Bajaj Allianz Life Nifty 500 Multicap Momentum Quality 50 Index Fund, which will be available along with its ULIP products. Along with a life cover, this new fund offers ULIP customers a unique opportunity to capitalize on the growth potential of multi-cap stocks with momentum and quality factors, to diversify their portfolios, and enjoy the benefits of an index-based investment approach. The NFO period for this fund ends on 14^th February, 2025.

The Nifty 500 Multicap Momentum Quality 50 Index focuses on stocks selected based on a combination of momentum and quality factors from the Nifty 500 index. The Momentum score for each company is determined based on its 6-month and 12-month price return, adjusted for volatility. The Quality score for each company is determined based on return on equity (ROE), financial leverage (Debt/Equity Ratio), and earnings (EPS) growth variability analysed during the previous 5 years.

Speaking on the launch of the new fund, Mr. Srinivas Rao Ravuri, Chief Investment Officer, Bajaj Allianz Life Insurance, said, “As one of the life goal enablers for India, we are committed to providing customers with means to achieve their long-term financial goals. The Bajaj Allianz Life Nifty 500 Multicap Momentum Quality 50 Index Fund allows ULIP customers to tap into India’s growth story through a diversified portfolio of high momentum. With a multi-cap approach and historical dynamic allocation among large Cap, Mid Cap & Small Cap, the fund identifies opportunities across market segments. Designed for investors with a higher risk appetite, it offers a path to long-term capital appreciation while navigating market fluctuations. These features make it a compelling choice for customers looking to review their fund allocation and move closer to their long-term financial goals.”

The fund aims to replicate the performance of the benchmark index (Nifty 500 Multicap Momentum Quality 50 Index), subject to tracking error. The Index will be rebalanced and reconstituted on a semi-annual basis in June and December.

Bajaj Allianz life ULIP products with underlying Bajaj Allianz Life Nifty 500 Multicap Momentum Quality 50 Index Fund enables policyholders to achieve their life goals, powered by the opportunity for wealth creation with a dynamic allocation strategy. For more information on the Bajaj Allianz Life Nifty 500 Multicap Momentum Quality 50 Index Fund, please visit our website: https://www.bajajallianzlife.com/

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Bengaluru, 12 November, 2024: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, witnessed a strong Q2FY25 marked by substantial growth. The Company reported a remarkable 34% year-on-year growth in Individual Rated New Business (IRNB), reaching INR 1,895 crores compared to INR 1,415 crores in Q2 FY24. The New Business Premium also showed strong year-on-year growth of 14% from INR 2,821 crore in Q2FY24 to INR 3,202 crore in Q2FY25, while Gross Written Premium registered a significant 23% increase from INR 5,338 crore in Q2FY24 to INR 6,544 crore in Q2FY25.

Bajaj Allianz Life recorded an increase in private sector market share to 8.9% and an overall industry share of 6.1%. This growth reflects the Company’s strong performance across its distribution channels that are continuously focussing on driving insurance awareness and penetration in diverse markets across the country.

KEY NUMBERS FOR Q2 FY25:

• Individual Rated New Business (IRNB) surged by 34% to reach INR 1,895 crores from INR 1,415 crores in Q2 FY24
• Gross Written Premium (GWP) grew by 23% to INR 6,544 crores compared to INR 5,338 crores in Q2 FY24
• Assets Under Management (AUM) increased by 25% to INR 1,23,178 crores as of 30^th September, 2024 from INR 98,700 crores as of 30^th September, 2023
• Profit After Tax in Q2FY25 was reported at INR 148 crores
• New Business Value (NBV) grew by 3% to INR 245 crores from INR 237 crores in Q2 FY24
• Private market share expanded to 8.9% from 8.3% in Q2 FY24
• Individual Premium demonstrated strong growth of 32% reaching INR 2,080 crores compared to INR 1,578 crores in Q2 FY24

Bajaj Allianz Life Insurance remains committed to expanding its footprint across tier 2 and tier 3 markets while strengthening its product portfolio to address diverse customer needs. With over 562 branches, over 1.59 lakh agents, 372 institutional partners including 35 bank partnerships, over 26K employees and a robust digital presence, the Company is reaching to existing and new customers in an effective manner.

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