Bajaj Allianz to launch unitised pension scheme

Kolkata: The growing demand for unit-linked insurance plans has prompted Bajaj Allianz Life to introduce a unitised variant of its existing pension product. It will now work towards fresh products, at least one of which will be aimed at women.

The company, according to Sam Ghosh, ceo, will set up new branches as part of its expansion plan. The company has already worked out bancassurance and corporate agency relationships. Its bancassurance partners are Standard Chartered Bank, Centurion Bank and Syndicate Bank.

The new products introduced by it have helped bring in over Rs180 crore gross written premium this fiscal. This has enabled the company to occupy the third slot (among private sector outfits) in the industry on this front, according to IRDA figures pertaining to June 2004.

Ghosh told newspersons that the eastern market was important, especially because of its growing contribution to the company's overall performance.