Private sector insurer Bajaj Allianz General Insurance hopes to close the current fiscal with a gross premium of Rs 4,000 crore.
“Our growth rate will be more than the industry average and we hope to touch a premium of Rs 4,000 crore this fiscal, which will be a growth of 23-24 per cent against the industry average of around 20 per cent,” company’s Managing Director and Chief Executive Tapan Singhel said.
He also said the combined loss ratio and the expense ratio are likely to be lower this fiscal.
According to IRDA, the company posted gross written premium (GWP) of Rs 2,505.62 crore in April-November period, against Rs 2,089.83 crore in the same period last fiscal.
Singhel also said health and motor insurance will remain the key growth drivers in the near future for his company. The company is also optimistic about commercial lines.
