The Indian Navy (IN) has signed a Memorandum of Understanding (MoU) with Bajaj Allianz Life Insurance Company to provide a diverse range of insurance products, including term insurance, to Naval Civilians at competitive premiums.
Bajaj Allianz General Insurance has posted its profit after tax at Rs 747 crore for the first half of 2022-23, against Rs 788 crore in H1 of 2021-22. The non-banking finance company's gross written premium increased by 5 per cent to Rs 7,900 crore in the reviewed half-yearly, against Rs 7,529 in the year-ago period.
The tie-up will enable customers, particularly from weaker sections and living in unbanked and underserved areas, to become financially secure and empowered, and is in line with IPPB’s objective of offering value-added products and services to its customers.
The corporate agency agreement was signed between both the organisations in Mumbai.
