Bajaj Allianz Life beats ICICI Prudential in new policies
Mumbai: Bajaj Allianz Life Insurance has beaten ICICI Prudential to the No 1 position by recording the highest collections from new policies up to January '06.

A major part of the collections came from single-premium policies and, therefore, non-recurring. If credits for single premiums are annualised (spread over the life of the policy), ICICI Prudential would remain No 1.

The total new business premium generated by Bajaj Allianz between April '05 and January '06 is Rs1,680 crore against Rs1,660 crore for ICICI Prudential said Sam Ghosh, MD, Bajaj Allianz Life. He added sales from single-premium policies remained significant in January.

"We are focused on growing the long-term business rather than the short-term business which is reflected in our funds under management of Rs7,200 crore," said Shikha Sharma, MD, ICICI Prudential.
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