Bajaj Group's acquired Allianz SE, ANP grows to INR 753 crore in FY 2025-26, wave of tax and regulatory developments that will shape the Insurance industry

Published at : Aug 30, 2026 10:33 AM (IST)

Total Views : 70

Bajaj Group's acquired Allianz SE, ANP grows to INR 753 crore in FY 2025-26, wave of tax and regulatory developments that will shape the Insurance industry

The Print Times
Over the course of a hundred years, the Bajaj Group has built institutions that have earned the trust of generations of Indians through consistency, integrity, and a long-term commitment to serving the country’s evolving needs. As the Group marks its centenary year, it is an opportunity to reflect on the values that have shaped this journey and continue to guide us as we build for the future.

This year marked a significant milestone in Bajaj Life journey. The Bajaj Group's acquisition of Allianz SE's stake made Bajaj Life a 100% Bajaj-owned organization. More than a structural change, it was an opportunity to reimagine our future with even greater purpose: building an institution that is deeply rooted in India's aspirations, Made in India, Made for India, and Made by India.

“Over the last several years, our focus has been on building scale and momentum and establishing ourselves as one of the fastest-growing players in the industry. FY 2025-26 reflected the results of our transition to Bajaj Life 2.0, a phase defined by profitable growth, stronger operational discipline, and future-ready innovation. It has not only created a stronger long-term foundation for the business, but also improved our ability to navigate significant macro and regulatory shifts, including changes in surrender value regulations and GST-related developments,”

Tarun Chugh Managing Director and Chief Executive Officer of Bajaj Life Insurance Limited stated in the annual report for FY 25-26

    Bajaj Life Insurance achieved the highest margin expansion and VNB growth among private players, enabled by disciplined product mix, execution rigour and continuous cost optimization. Our Retail Term business continued to demonstrate strong momentum, with ANP growing from INR 268 crore in FY 2023-24 to INR 753 crore in FY 2025-26, representing a robust 2-year CAGR of 68%. Achieving a NBM of more than 19% in FY 2025-26, after being at about 14-15% for last three years is not just a financial milestone; it is a foundational shift that sets the tone for the years ahead as Bajaj Life.
Tax and Regulatory Reforms: A Meaningful Step Forward 

FY 2025-26 brought a wave of tax and regulatory developments that will shape the industry for years to come. The GST exemption on life insurance premiums has made protection meaningfully more affordable for Indian families. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 modernises India's insurance framework, strengthens IRDAI's supervisory role, and revises equity transfer thresholds from 1% to 5%. Provisions for up to 100% FDI, alongside the expected implementation of Ind AS and Risk-Based Capital requirements, will further strengthen investor confidence and bring India's insurance sector in line with global reporting and capital norms.

New industry-wide initiatives such as Bima Sugam and the proposed Public Insurance Registry (PIR) are expected to further strengthen accessibility, transparency, and customer trust. Together, these reforms place the policyholder at the centre of the insurance ecosystem, aligned with the regulator’s vision of ‘Insurance for All by 2047’.

Products & Distribution: Getting Closer to Customers 

Protection remains central to what Bajaj Life stands for. Its 360-degree approach to the term business, combining product innovation, analytics-backed risk management, and best-in-class issuance processes, has enabled us to build a differentiated position as one of the most preferred insurers in the protection segment. Retail term mix doubled to 8% in FY 2025-26, up from 4% in FY 2023-24, and today, 44% of our customers hold higher-risk protection solutions including term plans and riders. We continue to strengthen our ‘Life Goals. Done.’ promise through customer-centric savings solutions such as Bajaj Life Supreme and Bajaj Life Gain. These offerings reflect our focus on creating differentiated long-term value propositions for customers, while maintaining a disciplined approach to risk and capital efficiency in the interest of all stakeholders.

Service as a differentiator remained a key focus area during the year. Our Claim Settlement Ratio of 99.33% reflects our commitment to honouring every promise made to our customers. Customer adoption of self-service journeys increased to 80% from 72% in FY 2024-25, driven by enhancements across our customer app, WhatsApp, kiosks, and QR-based branch services.

Technology: Building the Bajaj Life of Tomorrow

Mr. Tarun Chugh stated further, Technology continued to be a defining enabler of our transformation. The most significant milestone was NGIN, our New Policy Administration System. With its cloud-native, microservices-led architecture, NGIN replaces legacy systems with a modular, configurable, intelligent platform that enhances agility and speed-to-market. In FY 2025-26, over 95,000 policies through this platform and we continue to scale it up across Bajaj Life. Its configurability has enabled Bajaj Life to respond to organisational and process changes with far greater agility and efficiency.

Looking Ahead: FY 2026-27 

    “As we enter FY 2026-27, our priorities remain clear — driving balanced growth, strengthening persistency and business quality, improving profitability further, and continuing to build a future-ready organisation. While the external environment remains dynamic amid geopolitical uncertainties and an evolving regulatory landscape, we remain confident in the strength of our fundamentals and the resilience of our business model. We are steadfast focussed on keeping our journey on adoption of AI across Bajaj Life for process efficiencies, risk management and a better customer experience. Frugality, agility, and disciplined execution have been integral to Bajaj Life’s journey, and these values will continue to guide us as we pursue sustainable growth with a sharp focus on customer value and longterm profitability.”

 

Mr. Chugh said.

 

 

Published at : Aug 30, 2026 10:33 AM (IST)

Total Views : 70