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“This milestone underscores the profound belief the shoppers have within the Firm and its funding experience to assist them obtain their long-term Life Targets,” the corporate stated in a press launch.
A 1.8 instances development in its AUM, from Rs. 56,085 crores in FY2020, to over Rs.1,00,000 crore within the present monetary 12 months is reflective of this development trajectory, the corporate stated.
“Deal with progressive, customer-focused merchandise, sturdy omnichannel distribution focus, and top-tier companies backed by a stable digital and expertise framework have been key drivers of this excellent efficiency.”
“This milestone stands as a testomony to the unwavering belief our valued clients have vested in us. From an funding perspective, we stay devoted to delivering sturdy, risk-adjusted efficiency in our funds, solidifying the belief our clients have in our long-term funding methods,” stated Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance coverage.
By means of varied optimum funding methods and Buyer First philosophy Bajaj Allianz Life has fuelled its development, particularly over the previous 3 years (ended Aug 2023). The Particular person New Enterprise APE (Annual Premium Equal) for Bajaj Allianz Life has grown at 41.3% CAGR, vis-à-vis general business development of 13.5% CAGR and personal sector development of twenty-two.4% CAGR. This important development revival has helped the Firm to attain the Rs. 1,00,000 crore AUM milestone. At an general business stage (primarily based on particular person new enterprise APE), the market share of Bajaj Allianz Life has virtually doubled from 2.6% in FY20 to five.0% in FY23. The market share of the Firm inside the non-public sector has additionally expanded from 4.6% in FY20 to 7.6% in FY23.
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