Bajaj Allianz Life Insurance has reached a significant milestone by surpassing Rs. 1,00,000 crore in Assets under Management (AUM). The achievement, reflecting a 1.8 times growth in AUM from FY2020 to the current financial year, highlights the trust customers have in the company s investment expertise.
" Corporate earnings were broadly in line with expectations, sectors such as banking, auto & auto ancillaries, and pharma companies did well. These industries have proven to be significant winners, showcasing robust earnings growth. On the flip side, segments like metals, IT, and Quick Service Restaurants (QSR) faced some challenges, alongside a mixed trend in consumer discretionary spending."
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Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging.
The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October.
However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.