Bajaj Finserv stock jumps after gross direct premium soars in December
The company says its subsidiary, Bajaj Allianz General Insurance Company Limited, saw a jump of 17.8 per cent from Rs 1209 crore to Rs 1425 crore in its gross direct premium in December. The subsidiary's premium up to the month of December 2023 was at Rs 15,540.13 crore.
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Bajaj Finserv Share Price: Bajaj Finserv shares were trading higher in morning deals on BSE on Tuesday (January 9, 2024) after the insurance company saw a jump in its gross direct premium and total premium in the month of December.
The stock of the company was trading higher by 0.61 per cent, or Rs 10.35, at Rs 1707.05 at 10:20 am on Tuesday.
What Bajaj Finserv December update says
The company says its sunsidiary, Bajaj Allianz General Insurance Company Limited, saw a jump of 17.8 per cent from Rs 1209 crore to Rs 1425 crore in its gross direct premium in December.
The subsidiary's premium up to the month of December 2023 was at Rs 15,540.13 crore.
Bajaj Finserv said that its subsidiary's, Bajaj Allianz Life Insurance, total premium income jumped by 3.5 per cent to Rs 962 crore from Rs 929 crore.
The subsidiary's individual single premium for December was Rs 48.35 crore while individual non-single premium was Rs 634.48 crore.
Its group single premium was Rs 200.37 crore while its group yearly renewable premium was Rs 78.31 crore.
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