Bajaj Allianz General claims rocket nine-fold in 2003

 This is almost a nine-fold jump from the total claims incurred last fiscal to the tune of Rs 12.7 crore.

 Of the total claims incurred in fiscal 2003, about Rs 37.69 crore remains outstanding in first full year of operations.

 More than Rs 24 crore is pending on account of the motor insurance portfolio alone, which witnessed total claims to the tune of Rs 87.6 crore.

 This is however, lower than the claims incurred last year from the motor portfolio, which amounted to Rs 9.95 crore.

 Of the total claims pending, a sum of Rs 9.5 crore is payable by the reinsurer following the reinsurance treaty support.

 In the renewal of its reinsurance treaty for the current fiscal 2003-04, capacities for most lines of business have been increased double-fold as compared to the expiring limits.

 Allianz, the company