BAJAJ ALLIANZ RECORDS RP530M IN PREMIUMS

Indian joint venture insurer Bajaj- Allianz has reported premium income of Rp530m in the financial year 2005-06 for the Kozhikode region. Senior area manager N S Govindakumar said that the region sold 16,100 policies in 2005-06, compared with just 220 policies two years previously and 5,800 policies in 2004-05. The number of offices in the region, which comprises the six districts of Malabar, has grown from one to 23 in two years. Throughout India the company recorded growth of 216% year on year, reaching a national market share of 7.65% and a share amongst the private sector of 26.5%.