Mumbai: Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance both posted profits for FY09, despite deteriorating market conditions.
Bajaj Allianz Life Insurance posted profit of Rs45 crore in FY09 against a loss of Rs16 crore in the year-ago period, a release here on Wednesday stated.
Bajaj Allianz General Insurance reported profit before tax of Rs150 crore and a PAT of Rs95 crore in FY09, the release added.
Bajaj Allianz General Insurance grew 10% to garner Gross Written Premium (GWP) of Rs2,649 crore as against Rs2,404 crore in FY08.
Life insurance grew 9%, garnering a premium of Rs10,624 crore with new business premium at Rs4,491 crore and renewal premium at Rs6,133 crore, the release said.
Bajaj Allianz General Insurance has issued over 7.5 million policies and Bajaj Allianz Life Insurance has 7.4 million policies in force.