Bajaj Allianz Life opens 400th office

Mumbai: The Pune-based Bajaj Allianz Life Insurance Company (current paid up capital of Rs267.4 crore), has opened its 400th office in Silchar, Assam. It has also recently opened offices in far flung areas like Sibsagar, Tejpur, Agartala, and Tinsukia in the North-east, Anant Nag and Kathua in Jammu & Kashmir, Saharsa and Arrah in Bihar, Kodangalur in Kerala and Kannauj in UP.

The company has emerged as the country's second largest private insurer (IRDA figures for FY 2005) up from the sixth spot at the start of FY 2004, when it had only 60 offices. During the previous fiscal, it opened 340 new offices virtually at the rate of one office per day and was the first private insurer to have achieved an accounting surplus by October 2004. It has also emerged as the fastest growing private sector insurance company.

Says Sam Ghosh, country manager, Allianz and CEO, Bajaj Allianz Life Insurance, "To convince people about the benefits of life insurance and persuade them to protect the happiness of their families, can only be achieved by getting as close as possible to the customer, which is precisely why Bajaj Allianz has embarked upon reaching closer to the customers in India in all the nooks and corners of the country."

"Bajaj Allianz Life is now present in India in the remotest parts of the country providing access to common man in India with simple and easy life insurance and investment products flexible enough to suit their needs — jaisi jaroorat vaisa insurance — with world class service." says Ghosh,.

The company has bancassurance tie ups with Standard Chartered Bank, Centurion Bank, Syndicate Bank and Jankalyan Sahakari Bank to distribute Bajaj Allianz's products.