Bajaj General Insurance deepens its distribution reach into rural and semi-urban India through a tie-up with Vakrangee, amid low market penetration flagged by Economic Survey.
Subsidiary of property conglomerate had its ratings affirmed, with AM Best noting a shift in its investment portfolio towards cash and high-grade fixed income assets.
Fitch has identified correlated aggregation risk as the key near-term concern for specialty insurers, even as the agency maintains a broadly contained ratings outlook.
The Italian-headquartered insurer posted a record €8bn operating result globally, with Asia life business outpacing every other region in terms of growth.
