Bajaj Allianz Life has a fund of Rs2,348 crore beyond the solvency margin, which forms a part of shareholders’ investments, Bajaj Finserv managing director Sanjiv Bajaj said. Bajaj Finserv is the holding company for Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, besides Bajaj Finance Ltd.“There is no reason for an IPO in the short-term,” Bajaj Finserv managing director Sanjiv Bajaj told PTI. Bajaj Allianz Life is among the most capital-efficient among private insurers with a solvency ratio of 608% as on 30 September, Bajaj said. Solvency ratio in case of Bajaj Allianz General Insurance is 288% as against the regulatory requirement of 150%, as of September 30, Bajaj said. A number of insurance companies have launched initial public offering (IPO) in the past few months, including SBI Life Insurance, General Insurance Corp of India (GIC Re) and New India Assurance.

Source: Mint November 05, 2017 05:26 UTC