BFL Loan Loss Provision and Operating Expenses
BALIC - Key Highlights
Q1 FY 2021-22
BAJAJ Allianz
Revenue Growth & Market
Share
Product Mix (IRNB Basis)
Renewal Collection
New Business Margins
Profit after tax
In Q1 FY22, IRNB grew by 49% (vs Private Players growth of 26% & LIC
growth of 4%. Overall industry growth of 16%)
■ BALIC was the fastest growing LI (vs Q1 FY21 & Q1 FY20) among top 10
private players in this quarter
■
Market share in IRNB terms increased from 5.7% to 6.7% among Pvt.
Players as we continue to offer complete product suite to the customers
through our balanced distribution mix.
■ Par: Non-Par Savings: ULIP: Protection: Annuity (22% :20%:39 % :7%:12%);
■ Annuity product launched during Q4 FY21 continues to be a star
performer contributed remarkably to our Product Mix in Q1 FY22 (12%)
Registered a strong growth of 27% in Q1 FY22
■ Witnessed strong growth in New Business Value (NBV) from Rs. -135 Mn
(negative) in Q1 FY21 to Rs. 253 Mn in Q1 FY22 on account of better product
mix, and higher business growth
■ Net New Business Margin (NBM)$ on Annualized New Business
increased to 4.2% in Q1 FY22 from -3.4% in Q1 FY21 (business was severely
impacted due to complete lockdown in Q1 FY21)
PAT for Q1 FY22 decreased by 35% from Rs. 1,300 Mn to Rs. 840 Mn
■ On account of additional reserves held for COVID-19, which was partially
offset by reversal of income tax provision of favorable CIT (Appeal) order of
Rs. 1,609 Mn for past years and lower NB strain
Source: IRDAI Monthly Business Figures, IRNB - Individual Rated New Business, EB - Existing Business, NB - New Business,
$ - On 12 month rolling basis, NBM for the period ended Jun 21 is 12.8% vs 9.4% for the period ended Jun'20
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