Bajaj Allianz General Insurance is certified by Insurance Regulatory and Development Authority (IRDA) on 2nd of May, 2001. This certification from IRDA is a must to do insurance business in India, for IRDA is the highest authority for insurance transactions. Bajaj Allianz General Insurance is a joint venture company with Bajaj Auto Limited and Allianz SE as partners. Though, Bajaj Auto, the Indian counterpart holds 74% of the stakes while the foreign counterpart, Allianz SE has 26% stakes. Bajaj Auto the main stake holder of Bajaj Allianz General Insurance is an old hand in Indian Business market, a company that has seen India through the path of development since decades.
Bajaj Allianz General Insurance is a profitable company that made a profit turnover of 75 crores, the only company in insurance market to make underwriting profits for the last three years continuously. Now this is proof of financial reliability. Bajaj Allianz General Insurance is also accredited with "iAAA rating, from ICRA Limited, this is received by those companies that have highest claims paying ability and is regarded as fundamentally strong position Holder Company in the market.
Bajaj Allianz has wide spread base with centers in more than 200 cities, covering all of India, even the remotest part. The head office of Bajaj Allianz is in Pune. Statistical data proves the financial reliability of the company: In the first quarter of the current financial year, 2007-08, Bajaj Allianz has already garnered a premium income of Rs. 574 crores, achieving a total growth of 27% over the last year for the same quarter, that time it was around 21 crores. Now this is what can proudly claimed as a fast growing, profit earning, dependable company.
Bajaj Allianz offers a wide range of policies in Health insurance that includes Health Guard, Hospital Cash, Critical Illness, Personal Guard, Silver Health, Star Package and Health Ensure, so much to choose from. In Bajaj Allianz Travel insurance offers Student Companion, Pravasi Bharti Bima Yojana (for NRI 's ), Travel Asia and Travel Elite. The insurance plan offers of Bajaj Allianz are very beneficial for the consumers.