BFL Loan Loss Provision and Operating Expenses

BALIC: Persistency Persistency 13th Month 80% 79% 77% Persistency 13th Month FY20 FY21 Q1 FY21 Q1 FY22 Persistency 37th Month 58% 63% 57% Persistency 37th Month 63% FY20 FY21 Q1 FY21 Q1 FY22 BBAJAJ Allianz Persistency 25th Month 82% 71% 71% Persistency 49th Month 54% 51% 49% 56% Persistency 49th Month FY20 FY21 Q1 FY21 Q1 FY22 69% Persistency 25th Month FY20 FY21 Q1 FY21 Q1 FY22 71% Persistency 61st Month 43% 40% 42% 40% Persistency 61st Month FY20 FY21 Q1 FY21 Q1 FY22 On account of lower base from Q1 FY21 and continued focus on renewal collection through various initiatives such as driving auto-payment registration, collection of high value (non persistent cases), digital payments, & higher distribution ownership (especially 13th & 25th month) have led to significant improvement in persistency across the cohorts. *Note: Persistency as per IRDAI framework | The persistency ratios for the period ended have been calculated for the policies issued in June to May period of the relevant years 41

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