Bajaj Allianz Corporate Update

BALIC - Key Highlights Q1 2023-24 B BAJAJ Allianz LIFE GOALS. DONE. Revenue Growth & Market Share ▪ In Q1 FY24, IRNB grew by 15% (vs private players growth of 8% and overall industry growth of 2%) ■ Market share in IRNB terms increased from 8.3% in Q1 FY23 to 8.8% in Q1 FY24 among private players ■ BALIC improved its ranking on IRNB basis from 6th to 5th position in Q1 FY24 ■ BALIC's 2 Year IRNB CAGR at 44% in Q1 FY24 is among the highest in the Industry ■ GWP excluding Group Fund Business grew by 22% for Q1 FY24 Product Mix (IRNB Basis) Renewal Premiums New Business Value Profit After Tax Source: IRDAI Monthly Business Figures ■ Par: Non-Par Savings: ULIP: Protection: Annuity retail mix stood at 13%:33%:42%:05%:06% respectively in Q1 FY24 v/s Q1 FY23 product mix of 19%:31%:38%:03%:09% Registered strong growth in renewals of 31% in Q1 FY24; supported by various initiatives to improve persistency across most cohorts especially in the later buckets ■ Net New Business Value at Rs. 94 Cr in Q1 FY24 v/s Rs. 135 Cr in Q1 FY23, mainly due to change in product mix and interest rate movement ■ PAT for Q1 FY24 was Rs. 155 Cr v/s Rs. 124 Cr in Q1 FY23, mainly due to higher Shareholder Income and lower death claims, partially offset by higher new business strain on account of business growth IRNB - Individual Rated New Business, NB - New Business, GWP - Gross Written Premium, ULIP - Unit Linked Insurance Plan, CAGR - Compounded Annual Growth Rate 35

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