Bajaj Allianz to infuse Rs 132 cr additional capital
Bajaj Allianz Life Insurance has decided on fresh infusion of capital of Rs 132 crore to take its capital base to Rs 500 crore.
The step is as per the Insurance Regulatory and Development Authority (IRDA) guidelines, a release said here today, adding that it would help the company expand in a pan- India form.
As per the latest IRDA data till January 2006, Bajaj Allianz is ranked first among the private sector life insurers by logging over 300 per cent growth, the release added.
Mr Sam Ghosh, CEO of the company said that infusion of capital would help the company continue with expansion plans and achieve sustained growth. - PTI