Bajaj Finserv - Covid-19 Update and Business Continuity Plan
BALIC - Key Highlights
Q1 2020-21
BBAJAJ Allianz
☐ Despite Covid-19 related lockdown, BALIC Individual Rated premium growth was flat in Q1 FY21 vs
Industry de growth of 18% (Private sector de-grew by 23%)
Excluding fund business, Group Protection business de - grew by 78% primarily on account of low
loan disbursement of loans by NBFCs and Banks due to Covid-19
During the quarter, BALIC has commenced its operations with Ratnakar Bank Ltd (RBL)
☐ Renewals registered a strong growth of 16% in Q1 FY21
☐ Institutional Business have been a growth driver with 28% growth in IRNB for Q1 FY21 as new
partnerships have started delivering
☐ Profit after tax for Q1 FY21 increased by 111% to Rs. 130 crore vs Rs. 62 crore in Q1 FY20
☐ As compared to this year, last year shareholders' PAT was adversely affected by a provision for
impairment of Rs. 126 crore (Rs. 108 crore after tax)
☐ In addition, company had higher realized gains & lower claims. These gains were partially offset by
increased new business strain & increased overruns
Source Life Council Statistics
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