 |
Analyst Meet / AGM
18-Oct-17
|
|
|
|
|
|
|
|
Conference Call
|
|
|
|
Bajaj Finserv
|
|
Life insurance profitability to show turnaround in couple of years
|
|
|
|
|
|
Bajaj Finserv conducted a conference call 17 October 2017 to discuss the financial performance for the quarter ended September 2017. S. Sreenivasan, CFO of the company addressed the call:
Highlights:
- The company has continued to exhibited satisfactory performance in the quarter ended September 2017. The company has posted healthy 28% increase in consolidated revenues to Rs 7561 crore, while the PAT increased 13% to Rs 652 crore in Q2FY2018.
- Among the major subsidiaries, Bajaj Finance has maintained robust growth in business and profitability. Bajaj Finance has posted strong 33% growth in total income to Rs 3102 crore in, while PAT jumped 37% to Rs 557 crore in Q2FY2018. Assets under management surged 38% to Rs 72139 crore end September 2017 over September 2016. Bajaj Finance raised Rs 4500 crore of equity capital in Q2FY2017, making it well capitalized with robust capital adequacy ratio of 25.42% end September 2017.
- Bajaj Allianz General Insurance Company reported one of its best combined ratio and possibly the best in General insurance industry. It recorded its highest ever quarterly gross written premium at 31% to Rs 2,857 crore, while profit after tax moved up 11% to Rs 260 crore in Q2FY18. Underwriting profit for Q2 FY18 more than doubled to Rs 138 crore from Rs 57 crore in Q2 FY17. Claim ratio improved to 67.9% and combined ratio to 88.8% in Q2FY18. The solvency ratio stood at 288%, which is well above the normal regulatory requirement of 150%.
- Bajaj Allianz Life Insurance Company has continued its focus towards selling more individual regular premium. Individual new business premium grew 32% in Q2FY18 as against industry growth of 23%. New business premium increased 59% to at Rs 1271 crore in Q2FY18.
- The life insurance company has arrested the decline in renewal premium and continued to post growth in renewal premium at 15% to Rs 745 crore in Q2FY18.
- The shareholders' profit after tax was lower for life insurance company at Rs 186 crore in Q2FY18 against Rs 202 crore in Q2FY17. The life insurance business is expected to show turnaround in profitability in couple of years.
- The life insurance business solvency ratio was robust at 608% (based on amended regulations) end September 2017 as against the minimum regulatory requirement of 150%. In addition to this, the company has a fund of Rs 2348 crore held beyond required solvency margin forming part of shareholders' investments.
- The life insurance business total AUM increased 9% to Rs 51088 crore end September 2017 from Rs 46880 crore end September 2016.
|
|
|
|
Previous News |
Bajaj Finserv consolidated net profit rises 14.60% in the December 2020 quarter
(
Results
-
Announcements
21-Jan-21
08:09
)
|
|
|
Bajaj Finserv standalone net profit declines 43.92% in the March 2023 quarter
(
Results
-
Announcements
27-Apr-23
14:09
)
|
|
|
Bajaj Finserv launches its mutual fund business
(
Corporate News
-
06-Jun-23
12:32
)
|
|
|
Bajaj Finserv Ltd sees good buying
(
Hot Pursuit
-
02-Feb-22
13:05
)
|
|
|
Bajaj Finserv Ltd jumps nearly 3%
(
Hot Pursuit
-
13-Dec-18
13:05
)
|
|
|
Bajaj Finserv gains as Q4 PAT jumps 31% YoY to Rs 1,769 cr
(
Hot Pursuit
-
27-Apr-23
14:29
)
|
|
|
Bajaj Finserv allots NCDs aggregating Rs 500 cr
(
Corporate News
-
20-Sep-23
11:27
)
|
|
|
Bajaj Finserv to convene AGM
(
Corporate News
-
29-Apr-22
18:03
)
|
|
|
Bajaj Finserv Ltd jumps 1.55%
(
Hot Pursuit
-
21-Sep-21
13:05
)
|
|
|
Bajaj Finserv to consider interim dividend
(
Corporate News
-
13-Feb-20
10:31
)
|
|
|
Bajaj Finserv
(
Results
-
Analysis
02-Feb-18
17:55
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|