Summarized below are the key highlights: FY 2002-2003

Individual Policies 1,15,951
First Premium Income Rs. 53.78 crores
Gross Written Premium Rs. 69.17 crore
Sum Assured Coverage Rs. 3976 crores
Locations and Branches 33 cities, 61 Customer Care Centers (branches)

• In January 2003, Allianz Bajaj received an additional injection of capital to the tune of Rs. 50 crore from its shareholders, taking the total equity base to Rs. 200 crores.
• Allianz Bajaj has forged a strong tie-up with Standard Chartered Bank for Bancassurance and also has about 50 Corporate Agents to sell its Life Insurance solutions.
• The company plans to launch its Pension Product very soon. The introduction of its Unit-linked product is also on the anvil.

Expressing satisfaction over the performance of the company, Mr. James Walton, CEO of Allianz Bajaj commented “As a young company, we have set ambitious targets for ourselves. This is the first complete fiscal in the short, but eventful history of Allianz Bajaj. During this period, we have achieved landmarks that may surprise many a global player. I am sure that this new fiscal will mark a historic phase for our company as we continue to enhance our steep growth path.”

Elaborating on the company’s expansion plans, Mr. Walton asserted, “By the end of this fiscal i.e., by 31st March 2004 we will set-up over 100 sales teams across 50 plus locations. This will establish Allianz Bajaj as a company with a truly pan-Indian presence and help us extend valuable Life Insurance cover to people across distributed geographies and socio-economic sections.”