Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance both posted profits for FY09, despite recessionary market conditions.

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Bajaj Allianz Life Insurance clocked a profit of Rs 45 crore in FY09 against a loss of Rs 16 crore in the year-ago period, a release here today stated. Bajaj Allianz General Insurance posted a profit before tax of Rs 150 crore and a PAT of Rs 95 crore in FY09, the release added.

Bajaj Allianz General Insurance grew 10 per cent to garner Gross Written Premium (GWP) of Rs 2,649 crore as against Rs 2,404 crore in FY08.      

Life insurance grew 9 per cent, garnering a premium of Rs 10,624 crore with new business premium at Rs 4,491 crore and renewal premium at Rs 6,133 crore, the release said.

Bajaj Allianz General Insurance has issued over 7.5 million policies and Bajaj Allianz Life Insurance has 7.4 million policies in force.

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