CHENNAI: Private insurer Bajaj Allianz Life Insurance continues to enhance its distribution footprint across India and particularly in Tamil Nadu.
Bajaj Allianz Life Insurance has strategic partnerships with over 82 financial institutions in the country, which includes 33 leading banks. Notably, it has partnered with four prominent banks headquartered in TN like Tamilnad Mercantile Bank, Citi Union Bank, Karur Vysya Bank, and Equitas Small Finance Bank.
Dheeraj Sehgal, chief distribution officer – Institutional Business, Bajaj Allianz Life, said via strategic pacts, strong growth has been seen, particularly over the last five years. From 2019 to 2023, its institutional business has seen a compound annual growth rate of 65 pc in terms of individual rated new business.