IRDAI PUBLIC DISCLOSURES

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2024

Version - 1 Date of Upload - 24th October 2024 Page 1 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001

List of Website Disclosure

Sl. No. Form No. Description Page No.

1 L-1-A-RA Revenue Account 3-6
2 L-2-A-PL Profit & Loss Account 7
3 L-3-A-BS Balance Sheet 8
4 L-4 Premium Schedule 9
5 L-5 Commission Schedule 10-11
6 L-6 Operating Expenses Schedule 12-15
7 L-7 Benefits Paid Schedule 16-17
8 L-8 Share Capital Schedule 18
9 L-9 Shareholding Pattern Schedule 19
10 L-10 Reserves and Surplus Schedule 20
11 L-11 Borrowings Schedule 21
12 L-12 Investments (Shareholders) Schedule 22
13 L-13 Investments (Policyholders) Schedule 23
L-14 Investments - Assets Held to Cover Linked Liabilities Schedule 24
14
L-14A Aggregate value of Investments other than Equity Shares and Mutual Fund 25
15 L-15 Loans Schedule 26
16 L-16 Fixed Assets Schedule 27
17 L-17 Cash and Bank Balance Schedule 28
18 L-18 Advances & Other Assets Schedule 29
19 L-19 Current Liabilities Schedule 30
20 L-20 Provisions Schedule 31
21 L-21 Misc Expenditure Schedule 32
22 L-22 Analytical Ratios 33-34
23 L-24 Valuation of Net Liabilities 35

Version - 1 Date of Upload - 24th October 2024 Page 2 of 35

Bajaj Allianz Life Insurance Company Limited FORM L-1-A-RA
Registration No. 116 ; Date of Registration - 3rd August 2001
Revenue Account for the quarter ended 30 September 2024
Policyholders' Account (Technical Account)
(Rs. in Lakhs)
Linked Business Non- Linked Business
Particulars Schedule Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Premiums earned (Net of GST)
(a) Premium L-4 221,996 111 - - 222,107 145,416 - 23 - - 145,439 243,114 43,217 - 146 339 286,816 654,362
(b) Reinsurance ceded (876) (1) - - (877) (649) - (1) - - (650) (13,701) - - (31) - (13,732) (15,259)
(c) Reinsurance accepted - - - - - - - - - - - - - - - - - -
Sub-Total 221,120 110 - - 221,230 144,767 - 22 - - 144,789 229,413 43,217 - 115 339 273,084 639,103

Income from investments

(a) Interest, dividend & rent-Gross 23,108 375 - - 23,483 41,837 - 130 - - 41,967 46,301 5,987 - 45 104 52,437 117,887
(b) Profit on sale/redemption of investments 255,912 3,164 - - 259,076 78,880 - - - - 78,880 17,297 701 - - - 17,998 355,954
(c) (Loss) on sale/redemption of investments (7,845) (57) - - (7,902) (279) - - - - (279) (2,421) - - - - (2,421) (10,602)
(d) Transfer/gain on revaluation/ change in fair value* 60,029 (369) - - 59,660 - - - - - - (1,788) (37) - - - (1,825) 57,835
(e) Amortisation of Premium / Discount on investments 8,301 70 - - 8,371 612 - 2 - - 614 1,231 538 - - - 1,769 10,754
Sub-Total 339,505 3,183 - - 342,688 121,050 - 132 - - 121,182 60,620 7,189 - 45 104 67,958 531,828

Other income
Miscellaneous income 35 - - - 35 1,638 - - - - 1,638 324 13 - 1 - 338 2,011
Income on unclaimed amount of Policyholder 86 - - - 86 - - - - - - - - - - - - 86
Contribution from Shareholders' A/c
(a) Towards Excess Expenses of Management - - - - - - - - - - - - - - - - - -
(b) Others (Towards remuneration of MD/CEO/WTD/Other KMPs) 276 1 - - 277 217 - - - - 217 141 16 - 1 - 158 652
Sub-Total 397 1 - - 398 1,855 - - - - 1,855 465 29 - 2 - 496 2,749

Total (A) 561,022 3,294 - - 564,316 267,672 - 154 - - 267,826 290,498 50,435 - 162 443 341,538 1,173,680

Commission L-5 22,769 - - - 22,769 22,808 - - - - 22,808 34,697 1,900 - 4 - 36,601 82,178
Operating expenses related to insurance business L-6 43,214 39 - - 43,253 32,009 - 5 - - 32,014 30,628 3,392 - 20 4 34,044 109,311
Provision for doubtful debts 22 - - - 22 22 - - - - 22 21 1 - - - 22 66
Bad debts written off 13 - - - 13 10 - - - - 10 9 - - - - 9 32
Provision for Tax (Net of reversals) 272 - - - 272 (1) - - - - (1) (133) 50 - 1 - (82) 189
Provisions (other than taxation)
(a) For diminution in the value of investments (Net) - - - - - - - - - - - - - - - - - -
(b) Others** - - - - - 35 - - - - 35 (8) - - - - (8) 27
Investments written off - - - - - - - - - - - - - - - - - -
Goods and Services Tax on ULIP Charges 5,514 32 - - 5,546 - - - - - - - - - - - - 5,546
Total (B) 71,804 71 - - 71,875 54,883 - 5 - - 54,888 65,214 5,343 - 25 4 70,586 197,349

Benefits paid (Net) L-7 213,426 2,983 - - 216,409 51,989 - 232 - - 52,221 70,033 6,030 - 104 615 76,782 345,412
Interim and Terminal bonuses paid - - - - - 15,928 - 58 - - 15,986 - - - - - - 15,986
Change in valuation of liability in respect of life policies
(a) Gross*** 283 (3) - - 280 144,484 - (129) - - 144,355 136,334 37,200 - (28) (184) 173,322 317,957
(b) Amount ceded in Reinsurance 605 - - - 605 (219) - - - - (219) (1,106) - - - - (1,106) (720)
(c) Amount accepted in Reinsurance - - - - - - - - - - - - - - - - - -
(d) Fund Reserve for Linked Policies 299,524 (161) - - 299,363 - - - - - - - - - - - - 299,363
(e) Fund for Discontinued Policies 10,827 - - - 10,827 - - - - - - - - - - - - 10,827
Total (C) 524,665 2,819 - - 527,484 212,182 - 161 - - 212,343 205,261 43,230 - 76 431 248,998 988,825

Surplus/(Deficit) (D) = (A) - (B) - (C) (35,447) 404 - - (35,043) 607 - (12) - - 595 20,023 1,862 - 61 8 21,954 (12,494)
Amount transferred from Shareholders' Account (Non-technical Account) 36,795 - - - 36,795 - - - - - - 3,449 (1,846) - (40) (3) 1,560 38,355
Amount Available For Appropriation 1,348 404 - - 1,752 607 - (12) - - 595 23,472 16 - 21 5 23,514 25,861

Appropriations
Transfer to Shareholders’ account 1,080 404 - - 1,484 - - - - - - 23,472 16 - 21 5 23,514 24,998
Transfer to other reserves - - - - - - - - - - - - - - - - - -
Balance being funds for future appropriations 268 - - - 268 607 - (12) - - 595 - - - - - - 863
Total 1,348 404 - - 1,752 607 - (12) - - 595 23,472 16 - 21 5 23,514 25,861

Details of surplus
(a) Interim and Terminal bonuses paid - - - - - 15,928 - 58 - - 15,986 - - - - - - 15,986
(b) Allocation of bonus to policyholders - - - - - - - - - - - - - - - - - -
(c) Surplus/(Deficit) shown in the Revenue Account 1,348 404 - - 1,752 607 - (12) - - 595 23,472 16 - 21 5 23,514 25,861
Total Surplus 1,348 404 - - 1,752 16,535 - 46 - - 16,581 23,472 16 - 21 5 23,514 41,847

Funds for future appropriations

Opening balance as at 1 July 2024 585 - - - 585 126,584 - 2,582 - - 129,166 - - - - - - 129,751
Add: Current period appropriations 268 - - - 268 607 - (12) - - 595 - - - - - - 863
Balance carried forward to Balance Sheet 853 - - - 853 127,191 - 2,570 - - 129,761 - - - - - - 130,614

Notes:
*Represents the deemed realised gain as per norms specified by the Authority
**Represents impairment on policy loan
*** Represents Mathematical Reserves after allocation of bonus

Version - 1 Date of Upload - 24th October 2024 Page 3 of 35

Bajaj Allianz Life Insurance Company Limited FORM L-1-A-RA
Registration No. 116 ; Date of Registration - 3rd August 2001
Revenue Account for the period ended 30 September 2024
Policyholders' Account (Technical Account)
(Rs. in Lakhs)
Linked Business Non- Linked Business
Particulars Schedule Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Premiums earned (Net of GST)
(a) Premium L-4 394,633 227 - - 394,860 228,918 - 36 - - 228,954 453,904 77,898 - 249 343 532,394 1,156,208
(b) Reinsurance ceded (1,395) (2) - - (1,397) (1,121) - (2) - - (1,123) (27,033) - - (32) - (27,065) (29,585)
(c) Reinsurance accepted - - - - - - - - - - - - - - - - - -
Sub-Total 393,238 225 - - 393,463 227,797 - 34 - - 227,831 426,871 77,898 - 217 343 505,329 1,126,623

Income from investments

(a) Interest, dividend & rent-Gross 45,777 815 - - 46,592 83,352 - 260 - - 83,612 89,932 11,200 - 93 208 101,433 231,637
(b) Profit on sale/redemption of investments 443,227 4,596 - - 447,823 118,959 - - - - 118,959 22,158 701 - - - 22,859 589,641
(c) (Loss) on sale/redemption of investments (16,810) (144) - - (16,954) (659) - - - - (659) (4,493) (7) - - - (4,500) (22,113)
(d) Transfer/gain on revaluation/ change in fair value* 264,774 1,157 - - 265,931 - - - - - - (2,457) (62) - - - (2,519) 263,412
(e) Amortisation of Premium / Discount on investments 15,761 115 - - 15,876 976 - 3 - - 979 1,535 981 - - - 2,516 19,371
Sub-Total 752,729 6,539 - - 759,268 202,628 - 263 - - 202,891 106,675 12,813 - 93 208 119,789 1,081,948

Other income
Miscellaneous income 44 - - - 44 3,122 - - - - 3,122 568 20 - 1 - 589 3,755
Income on unclaimed amount of Policyholder 184 - - - 184 - - - - - - - - - - - - 184
Contribution from Shareholders' A/c - - - -
(a) Towards Excess Expenses of Management - - - - - - - - - - - - - - - - - -
(b) Others (Towards remuneration of MD/CEO/WTD/Other KMPs) 513 2 - - 515 382 - - - - 382 263 34 - 1 - 298 1,195
Sub-Total 741 2 - - 743 3,504 - - - - 3,504 831 54 - 2 - 887 5,134

Total (A) 1,146,708 6,766 - - 1,153,474 433,929 - 297 - - 434,226 534,377 90,765 - 312 551 626,005 2,213,705

Commission L-5 32,475 - - - 32,475 34,547 - - - - 34,547 62,123 3,248 - 9 - 65,380 132,402
Operating expenses related to insurance business L-6 83,513 87 - - 83,600 61,648 - 10 - - 61,658 62,435 7,580 - 46 4 70,065 215,323
Provision for doubtful debts 41 - - - 41 44 - - - - 44 46 2 - - - 48 133
Bad debts written off 24 - - - 24 26 - - - - 26 27 1 - - - 28 78
Provision for Tax (Net of reversals) (169) - - - (169) 80 - - - - 80 91 (2) - - - 89 -
Provisions (other than taxation)
(a) For diminution in the value of investments (Net) - - - - - - - - - - - - - - - - - -
(b) Others** - - - - - 54 - - - - 54 6 - - - - 6 60
Investments written off - - - - - - - - - - - - - - - - - -
Goods and Services Tax on ULIP Charges 10,423 64 - - 10,487 - - - - - - - - - - - - 10,487
Total (B) 126,307 151 - - 126,458 96,399 - 10 - - 96,409 124,728 10,829 - 55 4 135,616 358,483

Benefits paid (Net) L-7 388,467 6,664 - - 395,131 92,565 - 370 - - 92,935 139,422 11,327 - 239 787 151,775 639,841
Interim and Terminal bonuses paid - - - - - 25,492 - 96 - - 25,588 - - - - - - 25,588
Change in valuation of liability in respect of life policies
(a) Gross*** (486) (1) - - (487) 217,655 - (187) - - 217,468 240,033 69,555 - (2) (249) 309,337 526,318
(b) Amount ceded in Reinsurance 524 - - - 524 (71) - - - - (71) (1,887) - - (1) - (1,888) (1,435)
(c) Amount accepted in Reinsurance - - - - - - - - - - - - - - - - - -
(d) Fund Reserve for Linked Policies 658,692 (624) - - 658,068 - - - - - - - - - - - - 658,068
(e) Fund for Discontinued Policies 32,394 (63) - - 32,331 - - - - - - - - - - - - 32,331
Total (C) 1,079,591 5,976 - - 1,085,567 335,641 - 279 - - 335,920 377,568 80,882 - 236 538 459,224 1,880,711

Surplus/(Deficit) (D) = (A) - (B) - (C) (59,190) 639 - - (58,551) 1,889 - 8 - - 1,897 32,081 (946) - 21 9 31,165 (25,489)
Amount transferred from Shareholders' Account (Non-technical Account) 61,360 - - - 61,360 - - - - - - 14,777 980 - - - 15,757 77,117
Amount Available For Appropriation 2,170 639 - - 2,809 1,889 - 8 - - 1,897 46,858 34 - 21 9 46,922 51,628

Appropriations
Transfer to Shareholders’ account 1,317 639 - - 1,956 - - - - - - 46,858 34 - 21 9 46,922 48,878
Transfer to other reserves - - - - - - - - - - - - - - - - - -
Balance being funds for future appropriations 853 - - - 853 1,889 - 8 - - 1,897 - - - - - - 2,750
Total 2,170 639 - - 2,809 1,889 - 8 - - 1,897 46,858 34 - 21 9 46,922 51,628

Details of surplus
(a) Interim and Terminal bonuses paid - - - - - 25,492 - 96 - - 25,588 - - - - - - 25,588
(b) Allocation of bonus to policyholders - - - - - - - - - - - - - - - - - -
(c) Surplus/(Deficit) shown in the Revenue Account 2,170 639 - - 2,809 1,889 - 8 - - 1,897 46,858 34 - 21 9 46,922 51,628
Total Surplus 2,170 639 - - 2,809 27,381 - 104 - - 27,485 46,858 34 - 21 9 46,922 77,216

Funds for future appropriations

Opening balance as at 1 April 2024 - - - - - 125,302 - 2,562 - - 127,864 - - - - - - 127,864
Add: Current year appropriations 853 - - - 853 1,889 - 8 - - 1,897 - - - - - - 2,750
Balance carried forward to Balance Sheet 853 - - - 853 127,191 - 2,570 - - 129,761 - - - - - - 130,614

Notes:
*Represents the deemed realised gain as per norms specified by the Authority
**Represents impairment on policy loan
*** Represents Mathematical Reserves after allocation of bonus

Version - 1 Date of Upload - 24th October 2024 Page 4 of 35

Bajaj Allianz Life Insurance Company Limited FORM L-1-A-RA
Registration No. 116 ; Date of Registration - 3rd August 2001
Revenue Account for the quarter ended 30 September 2023
Policyholders' Account (Technical Account)
(Rs. in Lakhs)
Linked Business Non- Linked Business
Particulars Schedule Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Premiums earned (Net of GST)
(a) Premium L-4 157,288 168 - - 157,456 119,635 - 27 - - 119,662 218,260 38,221 - 177 1 256,659 533,777
(b) Reinsurance ceded (421) - - - (421) (476) - (1) - - (477) (6,359) - - - - (6,359) (7,257)
(c) Reinsurance accepted - - - - - - - - - - - - - - - - - -
Sub-Total 156,867 168 - - 157,035 119,159 - 26 - - 119,185 211,901 38,221 - 177 1 250,300 526,520

Income from investments

(a) Interest, dividend & rent-Gross 21,638 473 - - 22,111 37,991 - 138 - - 38,129 36,121 3,578 - 41 80 39,820 100,060
(b) Profit on sale/redemption of investments 79,411 1,298 - - 80,709 14,501 - 21 - - 14,522 4,186 - - - - 4,186 99,417
(c) (Loss) on sale/redemption of investments (6,770) (249) - - (7,019) (4,257) - - - - (4,257) (1,057) (109) - - - (1,166) (12,442)
(d) Transfer/gain on revaluation/ change in fair value* 94,388 175 - - 94,563 - - - - - - (868) (206) - - - (1,074) 93,489
(e) Amortisation of Premium / Discount on investments 7,075 80 - - 7,155 827 - 2 - - 829 230 456 - - 29 715 8,699
Sub-Total 195,742 1,777 - - 197,519 49,062 - 161 - - 49,223 38,612 3,719 - 41 109 42,481 289,223

Other income
Miscellaneous income 130 - - - 130 1,310 - - - - 1,310 267 7 - - - 274 1,714
Income on unclaimed amount of Policyholder 763 - - - 763 - - - - - - - - - - - - 763
Contribution from Shareholders' A/c
(a) Towards Excess Expenses of Management - - - - - - - - - - - - - - - - - -
(b) Others - - - - - - - - - - - - - - - - - -
Sub-Total 893 - 893 1,310 - 1,310 267 7 - - - 274 2,477

Total (A) 353,502 1,945 - - 355,447 169,531 - 187 - - 169,718 250,780 41,947 - 218 110 293,055 818,220

Commission L-5 5,549 (2) - - 5,547 18,301 - - - - 18,301 22,692 1,205 - 7 - 23,904 47,752
Operating expenses related to insurance business L-6 29,813 56 - - 29,869 31,118 - 5 - - 31,123 22,590 3,485 - 25 - 26,100 87,092
Provision for doubtful debts (2) - - - (2) 4 - - - - 4 (10) 1 - - - (9) (7)
Bad debts written off 6 - - - 6 16 - - - - 16 16 - - - - 16 38
Provision for Tax (Net of reversals) (716) - - - (716) 10 - - - - 10 693 (173) - (1) (1) 518 (188)
Provisions (other than taxation)
(a) For diminution in the value of investments (Net) - - - - - 655 - - - - 655 - - - - - - 655
(b) Others** - - - - - 26 - - - - 26 - - - - - - 26
Investments written off - - - - - - - - - - - - - - - - - -
Goods and Services Tax on ULIP Charges 4,183 38 - - 4,221 - - - - - - - - - - - - 4,221
Total (B) 38,833 92 - - 38,925 50,130 - 5 - - 50,135 45,981 4,518 - 31 (1) 50,529 139,589

Benefits paid (Net) L-7 148,309 4,393 - - 152,702 59,485 - 246 - - 59,731 75,934 3,005 - 105 119 79,163 291,596
Interim and Terminal bonuses paid - - - - - 9,664 - 51 - - 9,715 - - - - - - 9,715
Change in valuation of liability in respect of life policies
(a) Gross*** (196) (29) - - (225) 50,047 - (190) - - 49,857 114,203 38,787 - 123 35 153,148 202,780
(b) Amount ceded in Reinsurance - - - - - - - - - - - (785) - - (1) - (786) (786)
(c) Amount accepted in Reinsurance - - - - - - - - - - - - - - - - - -
(d) Fund Reserve for Linked Policies 170,676 (2,265) - - 168,411 - - - - - - - - - - - - 168,411
(e) Fund for Discontinued Policies 8,710 (553) - - 8,157 - - - - - - - - - - - - 8,157
Total (C) 327,499 1,546 - - 329,045 119,196 - 107 - - 119,303 189,352 41,792 - 227 154 231,525 679,873

Surplus/(Deficit) (D) = (A) - (B) - (C) (12,830) 307 - - (12,523) 205 - 75 - - 280 15,447 (4,363) - (40) (43) 11,001 (1,242)
Amount transferred from Shareholders' Account (Non-technical Account) 13,765 (3) - - 13,762 - - - - - - 8,562 4,363 - 40 43 13,008 26,770
Amount Available For Appropriation 935 304 - - 1,239 205 - 75 - - 280 24,009 - - - - 24,009 25,528

Appropriations
Transfer to Shareholders’ account 935 304 - - 1,239 - - - - - - 24,009 - - - - 24,009 25,248
Transfer to other reserves - - - - - - - - - - - - - - - - - -
Balance being funds for future appropriations - - - - - 205 - 75 - - 280 - - - - - - 280
Total 935 304 - - 1,239 205 - 75 - - 280 24,009 - - - - 24,009 25,528

Details of surplus
(a) Interim and Terminal bonuses paid - - - - - 9,664 - 51 - - 9,715 - - - - - - 9,715
(b) Allocation of bonus to policyholders - - - - - - - - - - - - - - - - - -
(c) Surplus/(Deficit) shown in the Revenue Account 935 304 - - 1,239 205 - 75 - - 280 24,009 - - - - 24,009 25,528
Total Surplus 935 304 - - 1,239 9,869 - 126 - - 9,995 24,009 - - - - 24,009 35,243

Funds for future appropriations

Opening balance as at 1 July 2023 - - - - - 123,187 - 2,558 - - 125,745 - - - - - - 125,745
Add: Current period appropriations - - - - - 205 - 75 - - 280 - - - - - - 280
Balance carried forward to Balance Sheet - - - - - 123,392 - 2,633 - - 126,025 - - - - - - 126,025

Notes:
*Represents the deemed realised gain as per norms specified by the Authority
**Represents impairment on policy loan
*** Represents Mathematical Reserves after allocation of bonus

Version - 1 Date of Upload - 24th October 2024 Page 5 of 35

Bajaj Allianz Life Insurance Company Limited FORM L-1-A-RA
Registration No. 116 ; Date of Registration - 3rd August 2001
Revenue Account for the period ended 30 September 2023
Policyholders' Account (Technical Account)
(Rs. in Lakhs)
Linked Business Non- Linked Business
Particulars Schedule Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Premiums earned (Net of GST)
(a) Premium L-4 287,347 347 - - 287,694 181,184 - 45 - - 181,229 404,225 66,105 - 317 16 470,663 939,586
(b) Reinsurance ceded (818) (1) - - (819) (904) - (2) - - (906) (17,054) - - (1) - (17,055) (18,780)
(c) Reinsurance accepted - - - - - - - - - - - - - - - - - -
Sub-Total 286,529 346 - - 286,875 180,280 - 43 - - 180,323 387,171 66,105 - 316 16 453,608 920,806

Income from investments

(a) Interest, dividend & rent-Gross 42,685 1,027 - - 43,712 76,138 - 276 - - 76,414 70,005 6,622 - 81 148 76,856 196,982
(b) Profit on sale/redemption of investments 125,274 2,235 - - 127,509 24,646 - 21 - - 24,667 7,364 - - - - 7,364 159,540
(c) (Loss) on sale/redemption of investments (22,652) (701) - - (23,353) (12,765) - - - - (12,765) (3,376) (149) - - - (3,525) (39,643)
(d) Transfer/gain on revaluation/ change in fair value* 354,530 2,947 - - 357,477 - - - - - - (4,494) (62) - - - (4,556) 352,921
(e) Amortisation of Premium / Discount on investments 14,373 169 - - 14,542 1,560 - 3 - - 1,563 394 875 - - 79 1,348 17,453
Sub-Total 514,210 5,677 - - 519,887 89,579 - 300 - - 89,879 69,893 7,286 - 81 227 77,487 687,253

Other income
Miscellaneous income 248 - - - 248 2,628 - - - - 2,628 536 20 - 4 - 560 3,436
Income on unclaimed amount of Policyholder 1,138 - - - 1,138 - - - - - - - - - - - - 1,138
Contribution from Shareholders' A/c
(a) Towards Excess Expenses of Management - - - - - - - - - - - - - - - - - -
(b) Others - - - - - - - - - - - - - - - - - -
Sub-Total 1,386 - 1,386 2,628 - 2,628 536 20 - 4 - 560 4,574

Total (A) 802,125 6,023 - - 808,148 272,487 - 343 - - 272,830 457,600 73,411 - 401 243 531,655 1,612,633

Commission L-5 10,002 (2) - - 10,000 23,172 - - - - 23,172 36,198 1,908 - 15 - 38,121 71,293
Operating expenses related to insurance business L-6 63,923 101 - - 64,024 45,697 - 10 - - 45,707 56,638 7,738 - 50 1 64,427 174,158
Provision for doubtful debts 6 - - - 6 12 - - - - 12 19 1 - - - 20 38
Bad debts written off 12 - - - 12 22 - - - - 22 33 1 - - - 34 68
Provision for Tax (Net of reversals) (894) - - - (894) 26 - - - - 26 824 (199) - (1) (1) 623 (245)
Provisions (other than taxation)
(a) For diminution in the value of investments (Net) - - - - - 2,995 - - - - 2,995 - - - - - - 2,995
(b) Others** - - - - - 24 - - - - 24 (25) - - - - (25) (1)
Goods and Services Tax on ULIP Charges 8,153 76 - - 8,229 - - - - - - - - - - - - 8,229
Total (B) 81,202 175 - - 81,377 71,948 - 10 - - 71,958 93,687 9,449 - 64 - 103,200 256,535

Benefits paid (Net) L-7 280,983 8,713 - - 289,696 101,840 - 355 - - 102,195 136,215 6,018 - 220 786 143,239 535,130
Interim and Terminal bonuses paid - - - - - 17,355 - 62 - - 17,417 - - - - - - 17,417
Change in valuation of liability in respect of life policies
(a) Gross*** (344) (30) - - (374) 80,962 - (195) - - 80,767 199,137 65,130 - 159 (506) 263,920 344,313
(b) Amount ceded in Reinsurance - - - - - - - - - - - (1,172) - - - - (1,172) (1,172)
(c) Amount accepted in Reinsurance - - - - - - - - - - - - - - - - - -
(d) Fund Reserve for Linked Policies 444,664 (2,235) - - 442,429 - - - - - - - - - - - - 442,429
(e) Fund for Discontinued Policies 27,875 (904) - - 26,971 - - - - - - - - - - - - 26,971
Total (C) 753,178 5,544 - - 758,722 200,157 - 222 - - 200,379 334,180 71,148 - 379 280 405,987 1,365,088

Surplus/(Deficit) (D) = (A) - (B) - (C) (32,255) 304 - - (31,951) 382 - 111 - - 493 29,733 (7,186) - (42) (37) 22,468 (8,990)
Amount transferred from Shareholders' Account (Non-technical Account) 33,190 - - - 33,190 - - - - - - 21,279 7,186 - 42 43 28,550 61,740
Amount Available For Appropriation 935 304 - - 1,239 382 - 111 - - 493 51,012 - - - 6 51,018 52,750

Appropriations
Transfer to Shareholders’ account 935 304 - - 1,239 - - - - - - 51,012 - - - 6 51,018 52,257
Transfer to other reserves - - - - - - - - - - - - - - - - - -
Balance being funds for future appropriations - - - - - 382 - 111 - - 493 - - - - - - 493
Total 935 304 - - 1,239 382 - 111 - - 493 51,012 - - - 6 51,018 52,750

Details of surplus
(a) Interim and Terminal bonuses paid - - - - - 17,355 - 62 - - 17,417 - - - - - - 17,417
(b) Allocation of bonus to policyholders - - - - - - - - - - - - - - - - - -
(c) Surplus/(Deficit) shown in the Revenue Account 935 304 - - 1,239 382 - 111 - - 493 51,012 - - - 6 51,018 52,750
Total Surplus 935 304 - - 1,239 17,737 - 173 - - 17,910 51,012 - - - 6 51,018 70,167

Funds for future appropriations

Opening balance as at 1 April 2023 - - - - - 123,010 - 2,522 - - 125,532 - - - - - - 125,532
Add: Current year appropriations - - - - - 382 - 111 - - 493 - - - - - - 493
Balance carried forward to Balance Sheet - - - - - 123,392 - 2,633 - - 126,025 - - - - - - 126,025

Notes:
*Represents the deemed realised gain as per norms specified by the Authority
**Represents impairment on policy loan
*** Represents Mathematical Reserves after allocation of bonus

Version - 1 Date of Upload - 24th October 2024 Page 6 of 35

Bajaj Allianz Life Insurance Company Limited Form L-2-A-PL
Registration No. 116 ; Date of Registration - 3rd August 2001
Profit and Loss account
Shareholders' Account (Non Technical Account)
(Rs. in Lakhs)

For the quarter ended For the period ended For the quarter ended For the period ended
Particulars
30 September 2024 30 September 2024 30 September 2023 30 September 2023

Amounts transferred from the Policyholders' account (Technical Account) 24,998 48,878 25,248 52,257

Income from investments

(a) Interest, dividends & rent - Gross 16,453 33,630 16,351 33,508
(b) Profit on sale/redemption of investments 16,029 27,909 7,753 20,224
(c) (Loss) on sale/redemption of investments (3,281) (6,169) (1,544) (5,299)
(d) Amortisation of Premium / Discount on Investments 215 334 65 84
Other Income - - - -
Total (A) 54,414 104,582 47,873 100,774

Expenses other than those directly related to the insurance business 740 1,052 854 1,320
Remuneration of KMP include MD and CEO over and above specified limits - - 609 1,006
Contribution to Policyholders' A/c
(a) Towards Excess Expenses of Management - - - -
(b) Others (Towards remuneration of MD/CEO/WTD/Other KMPs) 652 1,195 - -
Interest on subordinated debt - - - -
Expenses towards CSR activities 222 511 207 406
Penalties - - - -
Bad debts written off - - - -
Amount Transferred to Policyholders' Account 38,355 77,117 26,770 61,740
Provisions (other than taxation) - -
(a) For diminution in value of investment(Net) - - 201 1,204
(b) Provision for doubtful debts - - - -
Investments written off - - - -
Others - - - -
Total (B) 39,969 79,875 28,641 65,676

Profit/ (loss) before tax 14,445 24,707 19,232 35,098

Provision for Taxation (354) 204 (73) 245
Profit/ (loss) after tax 14,799 24,503 19,305 34,853

Appropriations
(a) Balance at the beginning of the period 904,825 944,855 904,146 933,811
(b) Interim dividends paid during the period - - - -
(c) Final dividend paid during the period - 49,734 - 45,213
(d) Transfer to reserves/ other accounts - - - -
Profit carried forward to the Balance Sheet 919,624 919,624 923,451 923,451

Version - 1 Date of Upload - 24th October 2024 Page 7 of 35

Bajaj Allianz Life Insurance Company Limited Form L-3-A-BS
Registration No. 116 ; Date of Registration - 3rd August 2001
Balance Sheet

(Rs. in Lakhs)
Particulars Schedule As at 30 September 2024 As at 30 September 2023

Sources of funds
Shareholders’ funds:
Share capital L-8,L-9 15,071 15,071
Share Application Money Pending Allotment - -
Reserves and surplus L-10 1,030,738 1,034,920
Credit/(debit) fair value change account 47,070 22,918
Sub-Total 1,092,879 1,072,909
Borrowings L-11 - -
Policyholders’ funds
Credit/(debit) fair value change account 368,313 225,953
Policy liabilities 5,786,741 4,708,720
Provision For Discontinuance Fund
(a) Discontinued on account of non-payment of premium 270,127 224,482
(b) Other discontinuance 711 1,206
(c) Credit/[debit] fair value change account - 270,838 - 225,688
Insurance reserves - -
Provision for linked liabilities
(a) Provision for linked liabilities 3,367,523 2,805,007
(b) Credit/(debit) fair value change account (linked) 1,420,447 4,787,970 797,322 3,602,329
Sub-Total 11,213,862 8,762,690
Funds for future appropriations
Linked 853 -
Non-Linked (Non-PAR) - -
Non-Linked (PAR) 129,761 126,025
Deferred Tax Liabilities (Net) - -
Total 12,437,355 9,961,624

Application of funds
Investments
Shareholders' L-12 1,024,721 1,052,525
Policyholders' L-13 6,229,622 4,960,828
Assets held to cover linked liabilities L-14 5,058,808 3,828,017
Loans L-15 71,857 60,974
Fixed assets - net block L-16 55,627 46,408
Deferred Tax Assets (Net) - -
Current assets
Cash and bank balances L-17 37,530 22,262
Advances and other assets L-18 393,030 301,950
Sub-total(A) 430,560 324,212
Current liabilities L-19 397,609 278,283
Provisions L-20 36,231 33,057
Sub-total(B) 433,840 311,340
Net current assets (C)=(A)-(B) (3,280) 12,872
Miscellaneous expenditure (to the extent not written off or adjusted) L-21 - -
Debit balance in Profit & Loss account (Shareholders' Account) - -
Deficit In Revenue Account (Policyholders' Account) - -
Total 12,437,355 9,961,624

Contingent Liabilities
(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023
Partly-paid up investments 60,886 89,796
Claims, other than those under policies, not acknowledged as debts - -
Underwriting commitments outstanding - -
Guarantees given by or on behalf of the Company 79 79
Statutory demands/liabilities in dispute, not provided for 4,786 -
Reinsurance obligations to the extent not provided for in accounts - -
Others:
Claims, under policies, not acknowledged as debts1
- Death repudiation cases pending 11,198 9,355
- Cases pending against servicing failure 1,085 824
Total 78,034 100,054
1
Pertains to litigations pending with various consumer forums/courts.

Version - 1 Date of Upload - 24th October 2024 Page 8 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-4 : Premium schedule

For the quarter ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

First year premiums 95,180 2 - - 95,182 45,590 - - - - 45,590 40,761 5,943 - - - 46,704 187,476
Renewal premiums 115,358 109 - - 115,467 99,826 - 23 - - 99,849 100,279 18,420 - 146 1 118,846 334,162
Single premiums 11,458 - - - 11,458 - - - - - - 102,074 18,854 - - 338 121,266 132,724
Total premium 221,996 111 - - 222,107 145,416 - 23 - - 145,439 243,114 43,217 - 146 339 286,816 654,362

Premium income from business written:

In India 221,996 111 - - 222,107 145,416 - 23 - - 145,439 243,114 43,217 - 146 339 286,816 654,362
Outside India - - - - - - - - - - - - - - - - - -
Total premium 221,996 111 - - 222,107 145,416 - 23 - - 145,439 243,114 43,217 - 146 339 286,816 654,362

For the period ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

First year premiums 155,697 2 - - 155,699 75,408 - - - - 75,408 72,776 11,304 - 2 - 84,082 315,189
Renewal premiums 217,183 225 - - 217,408 153,510 - 36 - - 153,546 178,393 32,289 - 247 2 210,931 581,885
Single premiums 21,753 - - - 21,753 - - - - - - 202,735 34,305 - - 341 237,381 259,134
Total premium 394,633 227 - - 394,860 228,918 - 36 - - 228,954 453,904 77,898 - 249 343 532,394 1,156,208

Premium income from business written:

In India 394,633 227 - - 394,860 228,918 - 36 - - 228,954 453,904 77,898 - 249 343 532,394 1,156,208
Outside India - - - - - - - - - - - - - - - - - -
Total premium 394,633 227 - - 394,860 228,918 - 36 - - 228,954 453,904 77,898 - 249 343 532,394 1,156,208

For the quarter ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

First year premiums 48,185 (30) - - 48,155 45,954 - - - - 45,954 39,741 5,836 - 3 - 45,580 139,689
Renewal premiums 90,064 198 - - 90,262 73,681 - 27 - - 73,708 72,701 14,844 - 174 1 87,720 251,690
Single premiums 19,039 - - - 19,039 - - - - - - 105,818 17,541 - - - 123,359 142,398
Total premium 157,288 168 - - 157,456 119,635 - 27 - - 119,662 218,260 38,221 - 177 1 256,659 533,777

Premium income from business written:

In India 157,288 168 - - 157,456 119,635 - 27 - - 119,662 218,260 38,221 - 177 1 256,659 533,777
Outside India - - - - - - - - - - - - - - - - - -
Total premium 157,288 168 - - 157,456 119,635 - 27 - - 119,662 218,260 38,221 - 177 1 256,659 533,777

For the period ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

First year premiums 91,663 (65) - - 91,598 59,646 - - - - 59,646 78,828 11,110 - 10 - 89,948 241,192
Renewal premiums 171,372 412 - - 171,784 121,538 - 45 - - 121,583 122,700 25,242 - 307 2 148,251 441,618
Single premiums 24,312 - - - 24,312 - - - - - - 202,697 29,753 - - 14 232,464 256,776
Total premium 287,347 347 - - 287,694 181,184 - 45 - - 181,229 404,225 66,105 - 317 16 470,663 939,586

Premium income from business written:

In India 287,347 347 - - 287,694 181,184 - 45 - - 181,229 404,225 66,105 - 317 16 470,663 939,586
Outside India - - - - - - - - - - - - - - - - - -
Total premium 287,347 347 - - 287,694 181,184 - 45 - - 181,229 404,225 66,105 - 317 16 470,663 939,586

Version - 1 Date of Upload - 24th October 2024 Page 9 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-5 : Commission schedule

For the quarter ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Participating Non-Participating
Particulars Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Commission paid
Direct - First year premiums 15,832 - - - 15,832 14,660 - - - - 14,660 14,631 1,061 - - - 15,692 46,184
- Renewal premiums 1,760 - - - 1,760 5,019 - - - - 5,019 3,152 441 - 4 - 3,597 10,376
- Single premiums 16 - - - 16 - - - - - - 11,268 65 - - - 11,333 11,349
Total 17,608 - - - 17,608 19,679 - - - - 19,679 29,051 1,567 - 4 - 30,622 67,909

Add: Commission on reinsurance accepted - - - - - - - - - - - - - - - - - -

Less: Commission on reinsurance ceded - - - - - - - - - - - - - - - - - -
Net commission 17,608 - - - 17,608 19,679 - - - - 19,679 29,051 1,567 - 4 - 30,622 67,909
Rewards 5,161 - - - 5,161 3,129 - - - - 3,129 5,646 333 - - - 5,979 14,269
Commission including rewards 22,769 - - - 22,769 22,808 - - - - 22,808 34,697 1,900 - 4 - 36,601 82,178

Channel wise break-up of Commission and Rewards

(Excluding Reinsurance commission):
Individual agents 3,013 - - - 3,013 7,224 - - - - 7,224 3,447 370 - 4 - 3,821 14,058
Corporate Agents -Others 14,300 - - - 14,300 13,141 - - - - 13,141 24,470 927 - - - 25,397 52,838
Brokers 5,451 - - - 5,451 2,388 - - - - 2,388 6,576 602 - - - 7,178 15,017
Micro Agents - - - - - - - - - - - 74 - - - - 74 74
Direct Business - Online - - - - - - - - - - - - - - - - - -
Direct Business - Others - - - - - - - - - - - - - - - - - -
Common Service Centre (CSC) - - - - - - - - - - - - - - - - - -
Web Aggregators - - - - - 2 - - - - 2 15 - - - - 15 17
IMF 5 - - - 5 53 - - - - 53 23 1 - - - 24 82
Others (POS) - - - - - - - - - - - 92 - - - - 92 92
Total 22,769 - - - 22,769 22,808 - - - - 22,808 34,697 1,900 - 4 - 36,601 82,178
Commission and Rewards on (Excluding Reinsurance)
Business written :
In India 22,769 - - - 22,769 22,808 - - - - 22,808 34,697 1,900 - 4 - 36,601 82,178
Outside India - - - - - - - - - - - - - - - - - -
Total 22,769 - - - 22,769 22,808 - - - - 22,808 34,697 1,900 - 4 - 36,601 82,178

For the period ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Participating Non-Participating
Particulars Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Commission paid
Direct - First year premiums 23,735 - - - 23,735 23,700 - - - - 23,700 25,733 1,880 - - - 27,613 75,048
- Renewal premiums 2,665 - - - 2,665 6,832 - - - - 6,832 5,115 678 - 9 - 5,802 15,299
- Single premiums 32 - - - 32 - - - - - - 22,960 127 - - - 23,087 23,119
Total 26,432 - - - 26,432 30,532 - - - - 30,532 53,808 2,685 - 9 - 56,502 113,466

Add: Commission on reinsurance accepted - - - - - - - - - - - - - - - - - -

Less: Commission on reinsurance ceded - - - - - - - - - - - - - - - - - -
Net commission 26,432 - - - 26,432 30,532 - - - - 30,532 53,808 2,685 - 9 - 56,502 113,466
Rewards 6,043 - - - 6,043 4,015 - - - - 4,015 8,315 563 - - - 8,878 18,936
Commission including rewards 32,475 - - - 32,475 34,547 - - - - 34,547 62,123 3,248 - 9 - 65,380 132,402

Channel wise break-up of Commission and Rewards

(Excluding Reinsurance commission):
Individual agents 5,136 - - - 5,136 11,620 - - - - 11,620 6,306 670 - 9 - 6,985 23,741
Corporate Agents -Others 19,794 - - - 19,794 19,057 - - - - 19,057 43,753 1,450 - - - 45,203 84,054
Brokers 7,538 - - - 7,538 3,787 - - - - 3,787 11,604 1,125 - - - 12,729 24,054
Micro Agents - - - - - - - - - - - 167 - - - - 167 167
Direct Business - Online - - - - - - - - - - - - - - - - - -
Direct Business - Others - - - - - - - - - - - - - - - - - -
Common Service Centre (CSC) - - - - - - - - - - - - - - - - - -
Web Aggregators - - - - - - - - - - - 28 2 - - - 30 30
IMF 7 - - - 7 83 - - - - 83 42 1 - - - 43 133
Others (POS) - - - - - - - - - - - 223 - - - - 223 223
Total 32,475 - - - 32,475 34,547 - - - - 34,547 62,123 3,248 - 9 - 65,380 132,402
Commission and Rewards on (Excluding Reinsurance)
Business written :
In India 32,475 - - - 32,475 34,547 - - - - 34,547 62,123 3,248 - 9 - 65,380 132,402
Outside India - - - - - - - - - - - - - - - - - -
Total 32,475 - - - 32,475 34,547 - - - - 34,547 62,123 3,248 - 9 - 65,380 132,402

Version - 1 Date of Upload - 24th October 2024 Page 10 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-5 : Commission schedule

For the quarter ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Participating Non-Participating
Particulars Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Commission paid
Direct - First year premiums 4,763 (2) - - 4,761 15,471 - - - - 15,471 15,905 857 - 1 - 16,763 36,995
- Renewal premiums 601 - - - 601 2,252 - - - - 2,252 1,179 240 - 5 - 1,424 4,277
- Single premiums 4 - - - 4 - - - - - - 5,019 103 - - - 5,122 5,126
Total 5,368 (2) - - 5,366 17,723 - - - - 17,723 22,103 1,200 - 6 - 23,309 46,398

Add: Commission on reinsurance accepted - - - - - - - - - - - - - - - - - -

Less: Commission on reinsurance ceded - - - - - - - - - - - - - - - - - -
Net commission 5,368 (2) - - 5,366 17,723 - - - - 17,723 22,103 1,200 - 6 - 23,309 46,398
Rewards 181 - - - 181 578 - - - - 578 589 5 - 1 - 595 1,354
Commission including rewards 5,549 (2) - - 5,547 18,301 - - - - 18,301 22,692 1,205 - 7 - 23,904 47,752

Channel wise break-up of Commission and Rewards

(Excluding Reinsurance commission):
Individual agents 1,805 (2) - - 1,803 6,407 - - - - 6,407 3,269 305 - 7 - 3,581 11,791
Corporate Agents -Others 3,350 - - - 3,350 10,839 - - - - 10,839 15,277 421 - - - 15,698 29,887
Brokers 394 - - - 394 1,055 - - - - 1,055 3,946 479 - - - 4,425 5,874
Micro Agents - - - - - - - - - - - 48 - - - - 48 48
Direct Business - Online - - - - - - - - - - - - - - - - - -
Direct Business - Others - - - - - - - - - - - - - - - - - -
Common Service Centre (CSC) - - - - - - - - - - - - - - - - - -
Web Aggregators - - - - - - - - - - - 4 - - - - 4 4
IMF - - - - - - - - - - - - - - - - - -
Others (POS) - - - - - - - - - - - 148 - - - - 148 148
Total 5,549 (2) - - 5,547 18,301 - - - - 18,301 22,692 1,205 - 7 - 23,904 47,752
Commission and Rewards on (Excluding Reinsurance)
Business written :
In India 5,549 (2) - - 5,547 18,301 - - - - 18,301 22,692 1,205 - 7 - 23,904 47,752
Outside India - - - - - - - - - - - - - - - - - -
Total 5,549 (2) - - 5,547 18,301 - - - - 18,301 22,692 1,205 - 7 - 23,904 47,752

For the period ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Participating Non-Participating
Particulars Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Commission paid
Direct - First year premiums 8,308 (3) - - 8,305 18,467 - - - - 18,467 25,845 1,215 - 3 - 27,063 53,835
- Renewal premiums 1,178 1 - - 1,179 3,845 - - - - 3,845 2,081 419 - 11 - 2,511 7,535
- Single premiums 11 - - - 11 - - - - - - 6,981 209 - - - 7,190 7,201
Total 9,497 (2) - - 9,495 22,312 - - - - 22,312 34,907 1,843 - 14 - 36,764 68,571

Add: Commission on reinsurance accepted - - - - - - - - - - - - - - - - - -

Less: Commission on reinsurance ceded - - - - - - - - - - - - - - - - - -
Net commission 9,497 (2) - - 9,495 22,312 - - - - 22,312 34,907 1,843 - 14 - 36,764 68,571
Rewards 505 - - - 505 860 - - - - 860 1,291 65 - 1 - 1,357 2,722
Commission including rewards 10,002 (2) - - 10,000 23,172 - - - - 23,172 36,198 1,908 - 15 - 38,121 71,293

Channel wise break-up of Commission and Rewards

(Excluding Reinsurance commission):
Individual agents 3,699 (2) - - 3,697 9,359 - - - - 9,359 7,232 713 - 15 - 7,960 21,016
Corporate Agents -Others 5,657 - - - 5,657 12,525 - - - - 12,525 22,164 594 - - - 22,758 40,940
Brokers 646 - - - 646 1,288 - - - - 1,288 6,400 601 - - - 7,001 8,935
Micro Agents - - - - - - - - - - - 105 - - - - 105 105
Direct Business - Online - - - - - - - - - - - - - - - - - -
Direct Business - Others - - - - - - - - - - - - - - - - - -
Common Service Centre (CSC) - - - - - - - - - - - - - - - - - -
Web Aggregators - - - - - - - - - - - 4 - - - - 4 4
IMF - - - - - - - - - - - - - - - - - -
Others (POS) - - - - - - - - - - - 293 - - - - 293 293
Total 10,002 (2) - - 10,000 23,172 - - - - 23,172 36,198 1,908 - 15 - 38,121 71,293
Commission and Rewards on (Excluding Reinsurance)
Business written :
In India 10,002 (2) - - 10,000 23,172 - - - - 23,172 36,198 1,908 - 15 - 38,121 71,293
Outside India - - - - - - - - - - - - - - - - - -
Total 10,002 (2) - - 10,000 23,172 - - - - 23,172 36,198 1,908 - 15 - 38,121 71,293

Version - 1 Date of Upload - 24th October 2024 Page 11 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-6 : Operating expenses schedule

For the quarter ended 30 September 2024

(Rs. in Lakhs)
Non- Linked Business
Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Employees' remuneration, welfare benefits and other manpower costs 29,261 20 - - 29,281 23,131 - 3 - - 23,134 19,230 2,415 - 10 3 21,658 74,073
Travel, conveyance and vehicle running expenses 765 - - - 765 422 - - - - 422 536 67 - 1 - 604 1,791
Training expenses 629 - - - 629 373 - - - - 373 328 41 - - 1 370 1,372
Rents, rates & taxes 449 1 - - 450 287 - - - - 287 250 37 - 1 - 288 1,025
Repairs 155 1 - - 156 102 - - - - 102 87 11 - - - 98 356
Printing and stationery 46 - - - 46 36 - - - - 36 35 3 - - - 38 120
Communication expenses 448 - - - 448 276 - - - - 276 366 36 - - - 402 1,126
Legal and professional charges 933 3 - - 936 675 - 1 - - 676 603 45 - 1 - 649 2,261
Medical fees 73 - - - 73 6 - - - - 6 1,265 - - - - 1,265 1,344
Auditors' fees, expenses,etc. - - - - - - - - - - - - - -
(a) as auditor 12 - - - 12 9 - - - - 9 7 - - - - 7 28
(b) as advisor or in any other capacity, in respect of
(i) Taxation matters 2 - - - 2 2 - - - - 2 1 - - - - 1 5
(ii) Insurance matters - - - - - - - - - - - - - - - - - -
(iii) Management services; and - - - - - - - - - - - - - - - - - -
(c) in any other capacity 1 - - - 1 1 - - - - 1 - - - - - - 2
(d) out of pocket expenses 1 - - - 1 1 - - - - 1 - - - - - - 2
Advertisement and publicity 4,258 1 - - 4,259 1,922 - - - - 1,922 1,972 330 - - - 2,302 8,483
Interest and bank charges 150 - - - 150 102 - - - - 102 144 31 - - - 175 427
Depreciation 570 2 - - 572 467 - 1 - - 468 377 32 - 1 - 410 1,450
Brand/Trade Mark usage fee/charges 1 - - - 1 1 - - - - 1 - - - - - - 2
Business Development and Sales Promotion Expenses 1,548 - - - 1,548 1,519 - - - - 1,519 1,533 145 - - - 1,678 4,745
Stamp duty on policies 703 - - - 703 125 - - - - 125 1,853 11 - - - 1,864 2,692
Information Technology Expenses 1,533 3 - - 1,536 1,158 - - - - 1,158 1,045 86 - 2 - 1,133 3,827
Goods and Services Tax (GST) 931 4 - - 935 825 - - - - 825 563 52 - 2 - 617 2,377
Others
(a) Insurance, water and electricity charges 194 1 - - 195 143 - - - - 143 112 14 - 1 - 127 465
(b) Security and housekeeping 263 1 - - 264 179 - - - - 179 149 20 - 1 - 170 613
(c) Miscellaneous expenses 288 2 - - 290 247 - - - - 247 172 16 - - - 188 725
Total 43,214 39 - - 43,253 32,009 - 5 - - 32,014 30,628 3,392 - 20 4 34,044 109,311
In India 43,191 39 - - 43,230 32,004 - 5 - - 32,009 30,587 3,392 - 20 4 34,003 109,242
Outside India 23 - - - 23 5 - - - - 5 41 - - - - 41 69
Total 43,214 39 - - 43,253 32,009 - 5 - - 32,014 30,628 3,392 - 20 4 34,044 109,311

Version - 1 Date of Upload - 24th October 2024 Page 12 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-6 : Operating expenses schedule

For the period ended 30 September 2024

(Rs. in Lakhs)
Non- Linked Business
Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance

Employees' remuneration, welfare benefits and other manpower costs 55,522 47 - - 55,569 43,622 - 6 - - 43,628 37,245 5,264 - 25 3 42,537 141,734
Travel, conveyance and vehicle running expenses 1,532 1 - - 1,533 873 - - - - 873 1,130 147 - 1 - 1,278 3,684
Training expenses 1,309 - - - 1,309 865 - - - - 865 1,563 103 - - 1 1,667 3,841
Rents, rates & taxes 882 1 - - 883 557 - - - - 557 531 84 - 1 - 616 2,056
Repairs 273 1 - - 274 182 - - - - 182 167 23 - - - 190 646
Printing and stationery 92 - - - 92 73 - - - - 73 72 7 - - - 79 244
Communication expenses 931 2 - - 933 524 - - - - 524 971 77 - 1 - 1,049 2,506
Legal and professional charges 2,393 6 - - 2,399 1,232 - 1 - - 1,233 1,580 99 - 3 - 1,682 5,314
Medical fees 115 - - - 115 9 - - - - 9 2,115 - - - - 2,115 2,239
Auditors' fees, expenses,etc.
(a) as auditor 22 - - - 22 19 - - - - 19 14 1 - - - 15 56
(b) as advisor or in any other capacity, in respect of
(i) Taxation matters 2 - - - 2 2 - - - - 2 1 - - - - 1 5
(ii) Insurance matters - - - - - - - - - - - - - - - - - -
(iii) Management services; and - - - - - - - - - - - - - - - - - -
(c) in any other capacity 2 - - - 2 2 - - - - 2 1 - - - - 1 5
(d) out of pocket expenses 1 - - - 1 1 - - - - 1 - - - - - - 2
Advertisement and publicity 8,598 1 - - 8,599 4,123 - - - - 4,123 4,732 832 - - - 5,564 18,286
Interest and bank charges 299 - - - 299 176 - - - - 176 314 62 - - - 376 851
Depreciation 1,067 4 - - 1,071 885 - 1 - - 886 744 81 - 2 - 827 2,784
Brand/Trade Mark usage fee/charges 2 - - - 2 2 - - - - 2 1 - - - - 1 5
Business Development and Sales Promotion Expenses 2,799 - - - 2,799 2,975 - - - - 2,975 2,942 296 - - - 3,238 9,012
Stamp duty on policies 1,018 - - - 1,018 189 - - - - 189 3,774 21 - - - 3,795 5,002
Information Technology Expenses 3,297 10 - - 3,307 2,548 - 1 - - 2,549 2,436 246 - 5 - 2,687 8,543
Goods and Services Tax (GST) 1,944 9 - - 1,953 1,709 - 1 - - 1,710 1,232 125 - 5 - 1,362 5,025
Others
(a) Insurance, water and electricity charges 364 1 - - 365 266 - - - - 266 225 31 - 1 - 257 888
(b) Security and housekeeping 496 1 - - 497 339 - - - - 339 303 44 - 1 - 348 1,184
(c) Miscellaneous expenses 553 3 - - 556 475 - - - - 475 342 37 - 1 - 380 1,411
Total 83,513 87 - - 83,600 61,648 - 10 - - 61,658 62,435 7,580 - 46 4 70,065 215,323
In India 83,452 87 - - 83,539 61,633 - 10 - - 61,643 62,351 7,573 - 46 4 69,974 215,156
Outside India 61 - - - 61 15 - - - - 15 84 7 - - - 91 167
Total 83,513 87 - - 83,600 61,648 - 10 - - 61,658 62,435 7,580 - 46 4 70,065 215,323

Version - 1 Date of Upload - 24th October 2024 Page 13 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-6 : Operating expenses schedule

For the quarter ended 30 September 2023

(Rs. in Lakhs)
Linked Business Non- Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
-
Employees' remuneration, welfare benefits and other manpower costs 18,438 30 - - 18,468 20,592 - 2 - - 20,594 10,043 2,207 - 13 - 12,263 51,325
Travel, conveyance and vehicle running expenses 541 1 - - 542 582 - - - - 582 701 76 - 1 - 778 1,902
Training expenses 330 - - - 330 371 - - - - 371 686 36 - - - 722 1,423
Rents, rates & taxes 294 1 - - 295 305 - - - - 305 250 38 - 1 - 289 889
Repairs 95 1 - - 96 105 - - - - 105 83 10 - - - 93 294
Printing and stationery 30 1 - - 31 35 - - - - 35 36 3 - - - 39 105
Communication expenses 375 1 - - 376 311 - - - - 311 741 43 - 1 - 785 1,472
Legal and professional charges 2,417 6 - - 2,423 664 - - - - 664 1,220 48 - 1 - 1,269 4,356
Medical fees 11 - - - 11 4 - - - - 4 510 - - - - 510 525
Auditors' fees, expenses,etc.
(a) as auditor 9 - - - 9 11 - - - - 11 8 1 - - - 9 29
(b) as advisor or in any other capacity, in respect of
(i) Taxation matters - - - - - - - - - - - - - - - - - -
(ii) Insurance matters - - - - - - - - - - - - - - - - - -
(iii) Management services; and - - - - - - - - - - - - - - - - - -
(c) in any other capacity 1 - - - 1 1 - - - - 1 1 - - - - 1 3
(d) out of pocket expenses - - - - - 1 - - - - 1 - - - - - - 1
Advertisement and publicity 4,053 2 - - 4,055 3,756 - 1 - - 3,757 3,711 643 - - - 4,354 12,166
Interest and bank charges 92 - - - 92 79 - - - - 79 99 26 - - - 125 296
Depreciation 387 2 - - 389 479 - 1 - - 480 338 41 - 1 - 380 1,249
Brand/Trade Mark usage fee/charges 1 - - - 1 1 - - - - 1 1 - - - - 1 3
Business Development and Sales Promotion Expenses 648 - - - 648 1,372 - - - - 1,372 1,206 89 - 1 - 1,296 3,316
Stamp duty on policies 134 - - - 134 126 - - - - 126 1,279 12 - - - 1,291 1,551
Information Technology Expenses 1,182 5 - - 1,187 1,408 - - - - 1,408 990 137 - 4 - 1,131 3,726
Goods and Services Tax (GST) 292 2 - - 294 372 - 1 - - 373 279 26 - 1 - 306 973
Others
(a) Insurance, water and electricity charges 124 1 - - 125 137 - - - - 137 106 14 - - - 120 382
(b) Security and housekeeping 164 1 - - 165 182 - - - - 182 135 20 - - - 155 502
(c) Miscellaneous expenses 195 2 - - 197 224 - - - - 224 167 15 - 1 - 183 604
Total 29,813 56 - - 29,869 31,118 - 5 - - 31,123 22,590 3,485 - 25 - 26,100 87,092
In India 29,801 56 - - 29,857 31,104 - 5 - - 31,109 22,554 3,481 - 25 - 26,060 87,026
Outside India 12 - - - 12 14 - - - - 14 36 4 - - - 40 66
Total 29,813 56 - - 29,869 31,118 - 5 - - 31,123 22,590 3,485 - 25 - 26,100 87,092

Version - 1 Date of Upload - 24th October 2024 Page 14 of 35

Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-6 : Operating expenses schedule

For the period ended 30 September 2023

(Rs. in Lakhs)
Non- Linked Business
Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
-
Employees' remuneration, welfare benefits and other manpower costs 39,075 54 - - 39,129 30,154 - 5 - - 30,159 28,583 5,079 - 27 1 33,690 102,978
Travel, conveyance and vehicle running expenses 1,156 2 - - 1,158 837 - - - - 837 1,559 156 - 1 - 1,716 3,711
Training expenses 1,145 - - - 1,145 682 - - - - 682 1,699 143 - - - 1,842 3,669
Rents, rates & taxes 613 1 - - 614 443 - - - - 443 555 82 - 1 - 638 1,695
Repairs 173 1 - - 174 142 - - - - 142 155 21 - - - 176 492
Printing and stationery 85 1 - - 86 77 - - - - 77 96 8 - 1 - 105 268
Communication expenses 699 3 - - 702 503 - - - - 503 1,352 71 - 2 - 1,425 2,630
Legal and professional charges 5,647 10 - - 5,657 1,082 - 1 - - 1,083 2,542 93 - 4 - 2,639 9,379
Medical fees 20 - - - 20 6 - - - - 6 997 - - - - 997 1,023
Auditors' fees, expenses,etc.
(a) as auditor 18 - - - 18 20 - - - - 20 17 2 - - - 19 57
(b) as advisor or in any other capacity, in respect of
(i) Taxation matters - - - - - - - - - - - - - - - - - -
(ii) Insurance matters - - - - - - - - - - - - - - - - - -
(iii) Management services; and - - - - - - - - - - - - - - - - - -
(c) in any other capacity 2 - - - 2 2 - - - - 2 2 - - - - 2 6
(d) out of pocket expenses 1 - - - 1 1 - - - - 1 1 - - - - 1 3
Advertisement and publicity 8,877 2 - - 8,879 5,234 - 1 - - 5,235 8,428 1,331 - 1 - 9,760 23,874
Interest and bank charges 202 - - - 202 128 - - - - 128 279 49 - - - 328 658
Depreciation 777 5 - - 782 776 - 1 - - 777 677 85 - 2 - 764 2,323
Brand/Trade Mark usage fee/charges 2 - - - 2 2 - - - - 2 2 - - - - 2 6
Business Development and Sales Promotion Expenses 1,393 - - - 1,393 1,817 - - - - 1,817 1,810 174 - 1 - 1,985 5,195
Stamp duty on policies 244 - - - 244 156 - - - - 156 4,600 22 - - - 4,622 5,022
Information Technology Expenses 2,245 11 - - 2,256 2,100 - 1 - - 2,101 1,885 270 - 6 - 2,161 6,518
Goods and Services Tax (GST) 590 5 - - 595 669 - 1 - - 670 567 48 - 2 - 617 1,882
Others
(a) Insurance, water and electricity charges 244 1 - - 245 207 - - - - 207 218 30 - - - 248 700
(b) Security and housekeeping 323 1 - - 324 268 - - - - 268 285 42 - - - 327 919
(c) Miscellaneous expenses 392 4 - - 396 391 - - - - 391 329 32 - 2 - 363 1,150
Total 63,923 101 - - 64,024 45,697 - 10 - - 45,707 56,638 7,738 - 50 1 64,427 174,158
In India 63,908 101 - - 64,009 45,680 - 10 - - 45,690 56,599 7,734 - 50 1 64,384 174,083
Outside India 15 - - - 15 17 - - - - 17 39 4 - - - 43 75
Total 63,923 101 - - 64,024 45,697 - 10 - - 45,707 56,638 7,738 - 50 1 64,427 174,158

Version - 1 Date of Upload - 24th October 2024 Page 15 of 35

 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-7 : Benefits paid schedule

For the quarter ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Insurance claims -
(a) Claims by death* 5,021 87 - - 5,108 3,901 - 5 - - 3,906 35,909 1,555 - 5 - 37,469 46,483
(b) Claims by maturity 25,680 1,307 - - 26,987 20,226 - 173 - - 20,399 8,153 - - - - 8,153 55,539
(c) Annuities/Pension payment - - - - - - - - - - - 340 2,488 - - - 2,828 2,828
(d) Periodical Benefit 3 - - - 3 14,211 - - - - 14,211 - - - - - - 14,214
(e) Health - - - - - - - - - - - - - - 82 - 82 82
(f) Surrender/withdrawal/foreclosure** 182,558 1,582 - - 184,140 13,222 - 54 - - 13,276 31,905 1,504 - 16 615 34,040 231,456
(g) Other benefits
(i) Rider 30 - - - 30 264 - 1 - - 265 133 - - - - 133 428
(ii) Interest on unclaimed amount of policyholder 309 - - - 309 - - - - - - - - - - - - 309
(iii) Others 62 7 - - 69 35 - (1) - - 34 160 483 - - - 643 746
Sub-Total (A) 213,663 2,983 - - 216,646 51,859 - 232 - - 52,091 76,600 6,030 - 103 615 83,348 352,085

Benefits Paid (Gross)

In India 213,663 2,983 - - 216,646 51,859 - 232 - - 52,091 76,600 6,030 - 103 615 83,348 352,085
Outside India - - - - - - - - - - - - - - - - - -
Total 213,663 2,983 - - 216,646 51,859 - 232 - - 52,091 76,600 6,030 - 103 615 83,348 352,085

(Amount ceded in reinsurance):

(a) Claims by death (235) - - - (235) 144 - - - - 144 (6,129) - - - - (6,129) (6,220)
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - 1 - 1 1
(f) Other benefits
(i) Rider (2) - - - (2) (14) - - - - (14) (44) - - - - (44) (60)
(ii) Others - - - - - - - - - - - (394) - - - - (394) (394)
Sub-Total (B) (237) - - - (237) 130 - - - - 130 (6,567) - - 1 - (6,566) (6,673)

Amount accepted in reinsurance

(a) Claims by death - - - - - - - - - - - - - - - - - -
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits - - - - - - - - - - - - - - - - - -
Sub-Total (C) - - - - - - - - - - - - - - - - - -
Benefits Paid (Net) 213,426 2,983 - - 216,409 51,989 - 232 - - 52,221 70,033 6,030 - 104 615 76,782 345,412
Benefits paid to claimants:
In India 213,426 2,983 - - 216,409 51,989 - 232 - - 52,221 70,033 6,030 - 104 615 76,782 345,412
Outside India - - - - - - - - - - - - - - - - - -
Total 213,426 2,983 - - 216,409 51,989 - 232 - - 52,221 70,033 6,030 - 104 615 76,782 345,412

1. * Includes Claim investigation expense amounting to Rs. 88 Lakhs

2. ** Total surrenders are net of linked surrender charges of Rs. 5 Lakhs

For the period ended 30 September 2024 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Insurance claims
(a) Claims by death* 12,042 178 - - 12,220 10,219 - 5 - - 10,224 75,351 3,375 - - - 78,726 101,170
(b) Claims by maturity 36,381 2,829 - - 39,210 33,541 - 262 - - 33,803 13,218 - - - - 13,218 86,231
(c) Annuities/pensions payment - - - - - - - - - - - 437 4,477 - - - 4,914 4,914
(d) Periodical Benefit 6 - - - 6 22,913 - - - - 22,913 - - - - - - 22,919
(e) Health - - - - - - - - - - - - - - 216 - 216 216
(f) Surrender/withdrawal/foreclosure** 339,834 3,643 - - 343,477 25,904 - 100 - - 26,004 64,210 2,528 - 23 787 67,548 437,029
(g) Other benefits
(i) Rider 210 - - - 210 583 - 2 - - 585 357 - - - - 357 1,152
(ii) Interest on unclaimed amount of policyholder 411 - - - 411 - - - - - - - - - - - - 411
(ii) Others 106 14 - - 120 103 - 1 - - 104 641 947 - - - 1,588 1,812
Sub-Total (A) 388,990 6,664 - - 395,654 93,263 - 370 - - 93,633 154,214 11,327 - 239 787 166,567 655,854

Benefits Paid (Gross)

In India 388,990 6,664 - - 395,654 93,263 - 370 - - 93,633 154,214 11,327 - 239 787 166,567 655,854
Outside India - - - - - - - - - - - - - - - - - -
Total 388,990 6,664 - - 395,654 93,263 - 370 - - 93,633 154,214 11,327 - 239 787 166,567 655,854

(Amount ceded in reinsurance):

(a) Claims by death (521) - - - (521) (681) - - - - (681) (14,282) - - - - (14,282) (15,484)
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits
(i) Rider (2) - - - (2) (17) - - - - (17) (96) - - - - (96) (115)
(ii) Others - - - - - - - - - - - (414) - - - - (414) (414)
Sub-Total (B) (523) - - - (523) (698) - - - - (698) (14,792) - - - - (14,792) (16,013)

Amount accepted in reinsurance

(a) Claims by death - - - - - - - - - - - - - - - - - -
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits - - - - - - - - - - - - - - - - - -
Sub-Total (C) - - - - - - - - - - - - - - - - - -
Benefits Paid (Net) 388,467 6,664 - - 395,131 92,565 - 370 - - 92,935 139,422 11,327 - 239 787 151,775 639,841
Benefits paid to claimants:
In India 388,467 6,664 - - 395,131 92,565 - 370 - - 92,935 139,422 11,327 - 239 787 151,775 639,841
Outside India - - - - - - - - - - - - - - - - - -
Total 388,467 6,664 - - 395,131 92,565 - 370 - - 92,935 139,422 11,327 - 239 787 151,775 639,841

1. * Includes Claim investigation expense amounting to Rs. 125 lakhs

2. ** Total surrenders are net of linked surrender charges of Rs. 6 Lakhs
3. Legal, other fees and expenses also form part of the claim cost, wherever applicable

Version - 1 Date of Upload - 24th October 2024 Page 16 of 35

 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-7 : Benefits paid schedule

For the quarter ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Insurance claims -
(a) Claims by death* 4,068 37 - - 4,105 3,551 - 6 - - 3,557 38,556 586 - 3 3 39,148 46,810
(b) Claims by maturity 14,790 1,382 - - 16,172 35,474 - 164 - - 35,638 7,774 - - - - 7,774 59,584
(c) Annuities/Pension payment - - - - - - - - - - - 347 1,589 - - - 1,936 1,936
(d) Periodical Benefit 4 - - - 4 10,698 - - - - 10,698 - - - - - - 10,702
(e) Health - - - - - - - - - - - - - - 96 - 96 96
(f) Surrender/withdrawal/foreclosure** 128,641 2,968 - - 131,609 9,591 - 75 - - 9,666 34,380 703 - 6 116 35,205 176,480
(g) Other benefits
(i) Rider 91 - - - 91 225 - 1 - - 226 163 - - - - 163 480
(ii) Interest on unclaimed amount of policyholder 747 - - - 747 - - - - - - - - - - - - 747
(iii) Others 54 6 - - 60 121 - - - - 121 103 127 - - - 230 411
Sub-Total (A) 148,395 4,393 - - 152,788 59,660 - 246 - - 59,906 81,323 3,005 - 105 119 84,552 297,246

Benefits Paid (Gross)

In India 148,395 4,393 - - 152,788 59,660 - 246 - - 59,906 81,323 3,005 - 105 119 84,552 297,246
Outside India - - - - - - - - - - - - - - - - - -
Total 148,395 4,393 - - 152,788 59,660 - 246 - - 59,906 81,323 3,005 - 105 119 84,552 297,246

(Amount ceded in reinsurance):

(a) Claims by death (84) - - - (84) (169) - - - - (169) (5,328) - - - - (5,328) (5,581)
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits
(i) Rider (2) - - - (2) (6) - - - - (6) (61) - - - - (61) (69)
(ii) Others - - - - - - - - - - - - - - - - - -
Sub-Total (B) (86) - - - (86) (175) - - - - (175) (5,389) - - - - (5,389) (5,650)
-
Amount accepted in reinsurance
(a) Claims by death - - - - - - - - - - - - - - - - - -
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits - - - - - - - - - - - - - - - - - -
Sub-Total (C) - - - - - - - - - - - - - - - - - -
Benefits Paid (Net) 148,309 4,393 - - 152,702 59,485 - 246 - - 59,731 75,934 3,005 - 105 119 79,163 291,596
Benefits paid to claimants:
In India 148,309 4,393 - - 152,702 59,485 - 246 - - 59,731 75,934 3,005 - 105 119 79,163 291,596
Outside India - - - - - - - - - - - - - - - - - -
Total 148,309 4,393 - - 152,702 59,485 - 246 - - 59,731 75,934 3,005 - 105 119 79,163 291,596

1. * Includes Claim investigation expense amounting to Rs.65 Lakhs

2. ** Total surrenders are net of linked surrender charges of Rs. 0.22 Lakhs

For the period ended 30 September 2023 (Rs. in Lakhs)

Non- Linked Business

Linked Business
Particulars Participating Non-Participating Total
Variable Variable Variable
Life Pension Health Total Life Annuity Pension Health Total Life Annuity Pension Health Total
Insurance Insurance Insurance
Insurance claims
(a) Claims by death* 8,950 155 - - 9,105 8,785 - 6 - - 8,791 78,077 1,779 - 8 3 79,867 97,763
(b) Claims by maturity 25,817 2,378 - - 28,195 57,930 - 232 - - 58,162 12,719 - - - - 12,719 99,076
(c) Annuities/pensions payment - - - - - - - - - - - 450 2,760 - - - 3,210 3,210
(d) Periodical Benefit 6 - - - 6 17,733 - - - - 17,733 - - - - - - 17,739
(e) Health - - - - - - - - - - - - - - 193 - 193 193
(f) Surrender/withdrawal/foreclosure** 244,826 6,172 - - 250,998 17,268 - 115 - - 17,383 55,661 1,132 - 19 783 57,595 325,976
(g) Other benefits
(i) Rider 163 - - - 163 501 - 2 - - 503 388 - - - - 388 1,054
(ii) Interest on unclaimed amount of policyholder 1,137 - - - 1,137 - - - - - - - - - - - - 1,137
(ii) Others 115 8 - - 123 172 - - - - 172 145 347 - - - 492 787
Sub-Total (A) 281,014 8,713 - - 289,727 102,389 - 355 - - 102,744 147,440 6,018 - 220 786 154,464 546,935

Benefits Paid (Gross)

In India 281,014 8,713 - - 289,727 102,389 - 355 - - 102,744 147,440 6,018 - 220 786 154,464 546,935
Outside India - - - - - - - - - - - - - - - - - -
Total 281,014 8,713 - - 289,727 102,389 - 355 - - 102,744 147,440 6,018 - 220 786 154,464 546,935

(Amount ceded in reinsurance):

(a) Claims by death (29) - - - (29) (532) - - - - (532) (11,111) - - - - (11,111) (11,672)
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits
(i) Rider (2) - - - (2) (17) - - - - (17) (114) - - - - (114) (133)
(ii) Others - - - - - - - - - - - - - - - - - -
Sub-Total (B) (31) - - - (31) (549) - - - - (549) (11,225) - - - - (11,225) (11,805)

Amount accepted in reinsurance

(a) Claims by death - - - - - - - - - - - - - - - - - -
(b) Claims by maturity - - - - - - - - - - - - - - - - - -
(c) Annuities/pensions payment - - - - - - - - - - - - - - - - - -
(d) Periodical Benefit - - - - - - - - - - - - - - - - - -
(e) Health - - - - - - - - - - - - - - - - - -
(f) Other benefits - - - - - - - - - - - - - - - - - -
Sub-Total (C) - - - - - - - - - - - - - - - - - -
Benefits Paid (Net) 280,983 8,713 - - 289,696 101,840 - 355 - - 102,195 136,215 6,018 - 220 786 143,239 535,130
Benefits paid to claimants:
In India 280,983 8,713 - - 289,696 101,840 - 355 - - 102,195 136,215 6,018 - 220 786 143,239 535,130
Outside India - - - - - - - - - - - - - - - - - -
Total 280,983 8,713 - - 289,696 101,840 - 355 - - 102,195 136,215 6,018 - 220 786 143,239 535,130

1. * Includes Claim investigation expense amounting to Rs.108 Lakhs

2. ** Total surrenders are net of linked surrender charges of Rs. 0.82 Lakhs
3. Legal, other fees and expenses also form part of the claim cost, wherever applicable

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-8 : Share capital schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Authorised Capital 20,000 20,000

200,000,000 Equity Shares of Rs.10 each (Previous year 200,000,000 Equity share of Rs. 10 each)

Issued Capital 15,071 15,071

150,709,000 Equity Shares of Rs. 10 each (Previous year 150,709,000 Equity share of Rs. 10 each)

Subscribed Capital 15,071 15,071

150,709,000 Equity Shares of Rs. 10 each (Previous year 150,709,000 Equity share of Rs. 10 each)

Called-up Capital 15,071 15,071

150,709,000 Equity Shares of Rs. 10 each (Previous year 150,709,000 Equity share of Rs. 10 each)
Less : Calls unpaid - -
Add : Shares forfeited (Amount originally paid up) - -
Less : Par value of Equity Shares bought back - -
Less : Preliminary Expenses - -
Expenses including commission or brokerage on underwriting or subscription of shares - -

Total 15,071 15,071

Out of the total share capital, 111,524,660 shares (30 September 2023 - 111,524,660) of Rs. 10 each are held by the holding company, Bajaj Finserv Limited.

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-9 : Pattern of shareholding schedule

As at 30 September 2024 As at 30 September 2023

Shareholder Number of % of Number of % of
Shares Holding Shares Holding
Promoters:
Indian (Bajaj Finserv Limited) 111,524,660 74% 111,524,660 74%
Foreign (Allianz SE) 39,184,340 26% 39,184,340 26%
Investors
· Indian - - - -
·  Foreign - - - -
Total 150,709,000 100% 150,709,000 100%

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-10 : Reserves and surplus schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Capital reserve - -
Capital redemption reserve - -
Share premium 105,996 105,996
Revaluation reserve
Opening Balance 5,118 5,509
Add: Additions during the period - -
Add: Changes in Fair Value during the period - -
Less: Deletion during the period - 5,118 (36) 5,473
General reserve - -
Less: Amount utilized for Buy-back of shares - -
Less: Amount utilized for issue of Bonus shares - -
Catastrophe reserve - -
Other reserve - -
Balance of profit in Profit & Loss account 919,624 923,451
Total 1,030,738 1,034,920

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-11 : Borrowings schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Debentures/bonds - -
Banks - -
Financial institutions - -
Others - -
Total - -

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-12 : Investments Shareholders' schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Long term investments

Government securities and Government guaranteed bonds including Treasury Bills 240,049 472,694
Other approved securities 155,464 26,179

Other approved investments

(a) Shares
(i) Equity 168,549 149,004
(ii) Preference - -
(b) Mutual funds - -
(c) Derivative instruments - -
(d) Debentures/bonds 171,332 133,236
(e) Other securities
(i) Fixed deposit with banks 50,025 100,025
(ii) Repurchase Agreement (Repo) - -
(iii) AT1 Bonds - -
(f) Subsidiaries - -
(g) Investment properties-real estate 7,952 8,889

Investments in infrastructure & social sector

(a) Approved investments
(i) Equity 17,286 10,931
(ii) Debentures/bonds 109,299 99,672
(b) Other investments
(i) Equity - -
(ii) Debentures/bonds - -

Other investments
(i) Equity 8,056 12,444
(ii) Debentures/bonds 4,996 4,996
(iii) AT1 Bonds - -

Short term investments

Government securities and Government guaranteed bonds including Treasury Bills 2,383 -
Other approved securities 201 -

Other approved investments

(a) Shares
(i) Equity - -
(ii) Preference - -
(b) Mutual funds - -
(c) Derivative instruments - -
(d) Debentures/bonds 2,096 4,997
(e) Other securities
(i) Fixed deposit with banks 53,000 -
(ii) TREPS (Tri-party Repo) 29,606 27,938
(iii) Repurchase Agreement (Repo) - -
(iv) AT1 Bonds - -
(f) Subsidiaries - -
(g) Investment properties-real estate - -

Investments in infrastructure & social sector

(a) Approved investments
(i) Equity - -
(ii) Debentures/bonds 4,427 1,520
(b) Other investments
(i) Equity - -
(ii) Debentures/bonds - -

Other investments
(i) Equity - -
(ii) Debentures/bonds - -

Total 1,024,721 1,052,525

Investments
In India 1,024,721 1,052,525
Outside India - -
Total 1,024,721 1,052,525

Notes :
(Rs. in Lakhs)
Sr. N Particulars As at 30 September 2024 As at 30 September 2023
1. Shareholder's Investments include aggregate amount of Government securities
deposited with Clearing Corporation of India Limited (CCIL) as a deposit towards the 42,828 44,965
Settlement Guarantee Fund (SGF) deposit
Market value of above investments 42,720 44,487
2. Shareholder's Investments include aggregate amount of Government securities
deposited with Clearing Corporation of India Limited (CCIL) as a deposit towards the 1,780 1,783
towards Default Fund (DF) margin.
Market value of above investments 1,813 1,764
3. Shareholder's Investments includes fixed deposit with Axis Bank Ltd. towards bank
guarantee requirement of Unique Identification Authority of India (UIDAI) for availing 25 25
AADHAR authentication services.

4. Aggregate amount of Company’s investments and the market value thereof : -

Particulars As at 30 September 2024 As at 30 September 2023
Aggregate amount of Company’s investments other than Equity, Equity ETF, AT1 Bonds,
822,877 871,257
AIF, Preference shares, Mutual fund, Investment property & Derivative instruments
Market value of above investments 838,594 862,745
Aggregate amount of Company’s investments in Mutual fund, Equity, Equity ETF, AT1
154,773 152,876
Bond, AIF, Preference shares & Investment property (at historical cost)
5. Investments in subsidiary at cost NIL NIL
6. Investments in holding company and other related entities 41,501 29,994
7. Investments made out of Catastrophe reserve NIL NIL

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-13 : Investments Policyholders' schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023
Long term investments
Government securities and Government guaranteed bonds including Treasury Bills 2,942,429 2,618,151
Other approved securities 513,086 292,460

Other approved investments

(a) Shares
(i) Equity 735,878 591,976
(ii) Preference - -
(b) Mutual funds - -
(c) Derivative instruments - -
(d) Debentures/bonds 763,502 619,370
(e) Other securities
(i) Fixed Deposit with banks - -
(ii) AT1 Bonds - -
(f) Subsidiaries - -
(g) Investment properties-real estate - -
(h) Real Estate Investment Trusts (REIT's) 108 92
(i) Loans - -

Investments in infrastructure & social sector

(a) Approved investments
(i) Equity 49,900 53,715
(ii) Debentures/bonds 818,572 564,487
(iii) Loans - -
(b) Other investments
(i) Equity - -
(ii) Debentures/bonds 2,501 4,998
(iii) Loans - -

Other investments
(i) Equity 39,378 26,314
(ii) Debentures/bonds 4,996 4,996
(iii) Loans - -
(iv) Alternative Investments Fund (AIF) 18,886 13,192
(v) AT1 Bonds 509 9,602

Short term investments

Government securities 1,730 13,730
Other approved securities 980 949

Other approved investments

(a) Shares
(i) Equity - -
(ii) Preference - -
(b) Mutual funds - 20,016
(c) Derivative instruments - -
(d) Debentures/bonds 36,984 22,485
(e) Other securities
(i) Fixed deposit with banks 35,500 16,500
(ii) Tri-party repo (TREPs) 201,093 73,678
(iii) Repurchase Agreement (Repo) - -
(v) Commercial Paper 969 -
(vi) Certificate of Deposit 47,907 -
(f) Subsidiaries - -
(g) Investment properties-real estate - -
(h) Real Estate Investment Trusts (REIT's) - -
(i) Loans - -

Investments in infrastructure & social sector

(a) Approved investments
(i) Equity - -
(ii) Debentures/bonds 12,216 14,117
(iii) Loans - -
(iv) Commercial Paper - -
(b) Other investments
(i) Equity - -
(ii) Debentures/bonds 2,498 -
(iii) Loans - -

Other investments
(i) Equity - -
(ii) Debentures/bonds - -
(iii) Loans - -
(iv) Alternative Investments Fund (AIF) - -

Total 6,229,622 4,960,828

Investments
In India 6,229,622 4,960,828
Outside India - -
Total 6,229,622 4,960,828

Notes:-
(Rs. in Lakhs)
1. Particulars As at 30 September 2024 As at 30 September 2023
Policyholder's Investments include aggregate amount of Government Securities deposited with
- 328
Counterparties towards Derivative MTM Margin (having FV Rs. 1,000 Lakhs)
Market value of above investments - 325

2 Aggregate amount of Company’s investments and the market value thereof :

Particulars As at 30 September 2024 As at 30 September 2023
Aggregate amount of Company’s investments other than Equity, Equity ETF, AT1 Bonds, AIFs,
5,384,964 4,245,921
Preference shares, Mutual fund, REIT's and Derivative instruments

Market value of above investments 5,550,283 4,232,524

Aggregate amount of Company’s investments in Mutual fund, Equity, Equity ETF, AT1 Bond,
604,842 518,782
AIF, Preference shares, Investment property and REIT's (at historical cost)

3 Investments in subsidiary at cost. NIL NIL

4 Investments in holding company and other related entities 352,194 325,237
5 Investments made out of Catastrophe reserve NIL NIL
Debt Securities are held to maturity and reduction in market values represent market conditions
6 - -
and not a permanent diminution in value of investments, if any.

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-14 : Assets held to cover linked liabilities schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023
LONG TERM INVESTMENTS

Government securities and Government guaranteed bonds including Treasury Bills 358,659 388,762

Other approved securities 58,106 14,162

Other approved investments

(a) Shares
(i) Equity 3,127,410 2,197,724
(ii) Preference - -
(b) Mutual Funds - -
(c) Derivative Instruments - -
(d) Debentures/Bonds 109,253 69,218
(e) Other Securities
(i) Fixed Deposit with Banks - -
(f) Subsidiaries - -
(g) Investment Properties - Real Estate - -

Investments in Infrastructure and Social Sector Bonds

(a) Approved investments
(i) Equity 483,172 340,244
(ii) Debentures/Bonds 29,430 58,027
(b) Other investments
(i) Equity 24,945 7,083
(ii) Debentures/Bonds - -

Other Investments
(i) Equity 314,164 298,695
(ii) Debentures/Bonds - -

SHORT TERM INVESTMENTS

Government securities and Government guaranteed bonds including Treasury Bills 312,571 219,420

Other approved securities - 301

Other approved investments

(a) Shares
(i) Equity - -
(ii) Preference - -
(b) Mutual Funds - -
(c) Derivative Instrument - -
(d) Debentures / Bonds 3,401 8,237
(e) Other Securities
(i) Fixed Deposit with Banks - -
(ii) Tri-party repo (TREPs) 98,660 137,299
(iii) Repurchase Agreement (Repo) - -
(iv) Commercial Paper 42,161 40,948
(v) Certificate of Deposit 43,066 36,388
(f) Subsidiaries - -
(g) Investment Properties - Real Estate - -

Investments in Infrastructure and Social Sector Bonds

(a) Approved investments
(i) Equity - -
(ii) Debentures/Bonds 10,105 1,801
(iii) Commercial Paper 7,270 7,090
(b) Other investments
(i) Equity - -
(ii) Debentures/Bonds - -

Other Investments
(i) Equity - -
(ii) Debentures/Bonds - -

Net Current Assets 36,435 2,618

Total 5,058,808 3,828,017

Investments
In India 5,058,808 3,828,017
Outside India - -
Total 5,058,808 3,828,017

Notes:
(Rs. in Lakhs)
Sr. No. Particular As at 30 September 2024 As at 30 September 2023
1. Investments in holding company and other related entities 41,582 32,798
2. Investment made out of catastrophe reserve at cost NIL NIL
3. Historical cost of above investments 3,601,925 3,028,077
4. Particulars of investment other than listed equity shares
Historical cost 1,067,421 983,839
Market value 1,072,681 981,652
5. Break-up of Net Current Asset - "Assets Held to Cover Linked Liabilities"
a) Interest accrued and not due 14,592 10,005
b) Cash and bank Balance 986 1,031
c) Investment sold -pending for settlement 34,666 13,464
d) Investment purchased -pending for settlement (22,130) (26,184)
e) Other receivable / (payable) 8,321 4,302
f) Application money of investment NIL NIL
Total Net Current Asset 36,435 2,618

6. Equity shares includes shares transferred under securities lending and borrowing scheme (SLB) where the Company retains all
the associated risk and rewards on these securities

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

L-14A Aggregate value of Investments other than Listed Equity Securities and Derivative Instruments
(Rs in Lakhs)

Shareholders Policyholders Assets held to cover Linked Liabilities Total

Particulars
As at 30 September As at 30 September As at 30 September As at 30 September As at 30 September As at 30 September As at 30 September As at 30 September
2024 2023 2024 2023 2024 2023 2024 2023
Long Term
Investments:
Book Value 744,011 854,290 5,065,601 4,133,548 555,447 530,169 6,365,059 5,518,007
Market Value 759,725 845,755 5,230,875 4,120,129 555,447 530,169 6,546,047 5,496,053

Short Term
Investments:
Book Value 87,287 34,455 339,878 158,974 517,234 451,484 944,399 644,913
Market Value 87,289 34,477 339,922 158,996 517,234 451,484 944,445 644,957

Note: Market Value in respect of Shareholders and Policyholders investments should be arrived as per the guidelines prescribed for linked business investments under IRDAI (Actuarial, Finance and Investment
Functions of Insurers) Regulation, 2024.

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-15 : Loans schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Security wise classification

Secured
(a) On mortgage of property
(i) In India - -
(ii) Outside India - -
(b) On shares, bonds, govt. securities, etc. - -
(c) Loan against policies 71,857 60,974
(d) Others - -
Unsecured - -
Total 71,857 60,974

Borrower wise classification

(a) Central and state government - -
(b) Bank and financial institutions - -
(c) Subsidiaries - -
(d) Companies - -
(e) Loan against policies 71,857 60,974
(f) Others - -
Total 71,857 60,974

Performance wise classification

(a) Loans classified as standard:
(i) In India 71,857 60,974
(ii) Outside India - -
(b) Non standard loans less provisions: - -
(i) In India - -
(ii) Outside India - -
Total 71,857 60,974

Maturity wise classification

(a) Short term 4,367 5,527
(b) Long term 67,490 55,447
Total 71,857 60,974

Notes:
(a) Short-term loans include those, which are repayable within 12 months from the date of balance sheet. Long term loans are
the loans other than short-term loans.

Provisions against Non-performing Loans

Non-Performing Loans (Rs. in Lakhs)

Loan Amount As at 30 September 2024 As at 30 September 2023
Sub-standard - -
Doubtful - -
Loss - -
Total - -
Provision
Sub-standard - -
Doubtful - -
Loss - -
Total - -

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-16 : Fixed assets schedule

(Rs. in Lakhs)
Gross Block Depreciation Net Block
Particulars As at As at As at Deductions/ As at As at As at
Additions Deductions For the year
1 April 2024 30 September 2024 1 April 2024 Adjustment 30 September 2024 30 September 2024 30 September 2023

Intangible assets
Goodwill - - - - - - - - - -
Computer software1 8,024 225 - 8,249 6,922 465 - 7,387 862 1,300

Tangible assets
Freehold land2 9,681 - - 9,681 - - - - 9,681 9,681
Leasehold improvements to leasehold property 5,464 752 58 6,158 3,070 325 49 3,346 2,812 2,163
Buildings2 22,822 - - 22,822 4,734 189 - 4,923 17,899 16,151
Electrical fittings 183 4 - 187 131 4 - 135 52 55
Furniture and fittings 2,872 172 7 3,037 2,155 74 7 2,222 815 704
Information technology equipment (Others) 10,572 1,346 389 11,529 7,523 1,026 376 8,173 3,356 2,617
Information technology equipment (Servers) 4,569 - 12 4,557 2,894 187 12 3,069 1,488 1,842
Air conditioner 1,847 177 26 1,998 1,397 102 26 1,473 525 382
Vehicles 2,352 483 16 2,819 1,009 300 5 1,304 1,515 1,365
Office equipment 1,541 183 10 1,714 1,100 92 8 1,184 530 288
Mobile Phones & Tablets 106 27 31 102 73 20 29 64 38 30
Total 70,033 3,369 549 72,853 31,008 2,784 512 33,280 39,573 36,578
Capital work in progress including Capital advances3 13,728 5,695 3,369 16,054 - - - - 16,054 9,830
Grand total 83,761 9,064 3,918 88,907 31,008 2,784 512 33,280 55,627 46,408
At 31 March 2024 70,957 23,853 11,050 83,760 27,190 4,987 1,169 31,008 52,752

1
None of the softwares are internally generated.
2
Assets included in land, property and building above exclude Investment Properties.
3
This includes advances to suppliers against purchase of fixed assets.

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-17 : Cash and bank balances schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Cash (including cheques, drafts and stamps)* 10,077 3,358

Bank balances
(a) Deposit accounts
(i) Short-term (due within 12 months of the date of Balance Sheet) - -
(ii) Others - -
(b) Current accounts 27,453 18,904
(c) Others - -
Money at call and short notice
(a) With banks - -
(b) With other institutions - -
Others - -
Total 37,530 22,262
Balances with non-scheduled banks included above
Cash and bank balances
In India 37,505 22,257
Outside India 25 5
Total 37,530 22,262

* Cheques on hand amount to Rs. 9,437 lakhs as at 30 September 2024 (As at 30 September 2023: Rs. 2,650 lakhs)

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-18 : Advances and other assets

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Advances
Reserve deposits with ceding companies - -
Application money for investments - -
Prepayments 10,909 9,229
Advances to directors/officers - -
Advance tax paid and taxes deducted at source 5,309 5,306
Others :
Advances to suppliers
Gross 3,081 4,486
Less: Provision for doubtful advances 40 70
Net balance 3,041 4,416
Other advances
Gross 95 84
Less: Provision for doubtful advances - -
Net balance 95 84
Total (A) 19,354 19,035

Other assets
Income accrued on investments 164,774 128,262
Outstanding premiums 38,613 28,154
Agents' balances
Gross 856 702
Less: Provision for doubtful advances 686 593
Net balance 170 109
Foreign agencies balance - -
Due from other entities carrying on insurance business 17,656 11,750
(Including amount due from re-insurers)
Due from subsidiaries/holding company - -
Investments held for Unclaimed Amount of Policyholders 3,851 26,565
Income accrued on Unclaimed amounts 775 4,626 2,042 28,607
Others
Deposits
Gross 10,286 6,814
Less: Provision for doubtful deposits - -
Net balance 10,286 6,814
Unsettled investment contracts - receivable 7,855 38,171
GST unutilised credit 12,532 11,581
Unit receivable 15,173 6,807
Margin Money receivable - 427
Derivative assets 99,298 20,057
Others 2,693 2,176
Total (B) 373,676 282,915

Total (A) + (B) 393,030 301,950

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-19 : Current liabilities

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Agents' balances 19,343 26,289

Balances due to other insurance companies 31,072 10,885
Deposits held on re-insurance ceded - -
Premium received in advance 4,700 2,605
Unallocated premium 38,742 21,360
Sundry creditors 2,348 1,746
Due to subsidiaries/holding company - -
Claims outstanding 91,053 30,381
Annuities due - -
Due to officers/directors of the company - -
Unclaimed amount of Policyholders 3,851 26,565
Income accrued on Unclaimed amounts 775 4,626 2,042 28,607
Interest payable on debentures/bonds - -
Others
Payable unsettled investment contracts 20,294 39,044
Expenses payable 41,692 60,998
Taxes payable 5,837 3,934
Statutory dues payable 1,488 1,412
GST payable 3,371 2,148
Employee payable 585 635
Deposits 538 495
Temporary overdraft as per the books of accounts 9,441 14,105
Unit payable 23,225 11,849
Margin Money Payable 98,555 15,166
Derivative Liability 699 6,624
Total 397,609 278,283

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-20 : Provisions schedule

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

For income tax (less payments and taxes deducted at source) 30,346 29,941
For Employee Benefits
For leave encashment 4,064 2,956
For long term incentive plan 660 -
For gratuity 1,161 160
For Others - -
Total 36,231 33,057

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements

Form L-21 : Miscellaneous expenditure schedule (To the extent not written-off or adjusted)

(Rs. in Lakhs)
Particulars As at 30 September 2024 As at 30 September 2023

Discount allowed on issue of shares/debentures - -

Others - -

Total - -

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001

Form L-22 : Analytical Ratios

For the Upto the For the Upto the
Sr. No. Particulars quarter ended period ended quarter ended quarter ended
30 September 2024 30 September 2024 30 September 2023 30 September 2023
1 New Business Premium Growth Rate (Segment wise)
(i) Linked Business:
a) Life *** 58.6% 53.0% 60.1% 31.1%
b) Pension NA+ NA+ NA+ NA+
c) Health NA+ NA+ NA+ NA+
d) Variable Insurance NA+ NA+ NA+ NA+
(ii) Non-Linked Business:
Participating:
a) Life *** -0.8% 26.4% 136.5% 62.3%
b) Annuity NA+ NA+ NA+ NA+
c) Pension NA+ NA+ NA+ NA+
d) Health NA+ NA+ NA+ NA+
e) Variable Insurance NA+ NA+ NA+ NA+
Non Participating:
a) Life *** -1.9% -2.1% 3.5% -19.7%
b) Annuity 6.1% 11.6% 8.7% 3.7%
c) Pension NA+ NA+ NA+ NA+
d) Health -100.0% -80.0% -13.8% -24.4%
e) Variable Insurance *** NA+ 2335.7% -100.0% -83.5%
Percentage of Single Premium (Individual Business) to Total New Business Premium (Individual
2 9.9% 10.6% 11.5% 11.4%
Business)
Percentage of Linked New Business Premium (Individual Business) to Total New Business Premium
3 46.6% 45.0% 30.8% 34.1%
(Individual Business)
4 Net Retention Ratio 97.7% 97.4% 98.6% 98.0%
5 Conservation Ratio (Segment wise)
(i) Linked Business:
a) Life *** 83.4% 82.6% 81.1% 81.0%
b) Pension 64.9% 64.8% 48.6% 45.1%
c) Health NA+ NA+ NA+ NA+
d) Variable Insurance NA+ NA+ NA+ NA+
(ii) Non-Linked Business:
Participating:
a) Life *** 83.4% 84.7% 85.8% 83.1%
b) Annuity NA+ NA+ NA+ NA+
c) Pension 85.2% 80.0% 86.1% 84.6%
d) Health NA+ NA+ NA+ NA+
e) Variable Insurance NA+ NA+ NA+ NA+
Non Participating:
a) Life *** 89.2% 88.5% 87.0% 85.4%
b) Annuity 89.1% 88.8% 89.3% 89.3%
c) Pension NA+ NA+ NA+ NA+
d) Health 82.5% 77.9% 90.6% 89.1%
e) Variable Insurance*** 100.0% 100.0% 86.3% 91.3%
6 Expense of Management* to Gross Direct Premium Ratio 29.3% 30.1% 25.3% 26.1%
7 Commission Ratio (Gross commission and Rewards paid to Gross Premium) 12.6% 11.5% 8.9% 7.6%
8 Business Development and Sales Promotion Expenses to New Business Premium 1.5% 1.6% 1.2% 1.0%
9 Brand/Trade Mark usage fee/charges to New Business Premium 0.0% 0.0% 0.0% 0.0%
10 Ratio of Policyholders' Fund to Shareholders' funds 1038.0% 1038.0% 828.5% 828.5%
11 Change in net worth (Amount in Rs. Lakhs) 19,970 19,970 6,281 6,281
12 Growth in Networth 1.9% 1.9% 0.6% 0.6%
13 Ratio of Surplus to Policyholders' Fund** 0.2% 0.5% 0.3% 0.6%
14 Profit after tax / Total Income 1.2% 1.1% 2.3% 2.1%
15 (Total Real Estate + Loans)/(Cash & Invested Assets) 0.9% 0.9% 1.0% 1.0%
16 Total Investments/(Capital + Reserves and Surplus) 1177.4% 1177.4% 937.3% 937.3%
17 Total Affiliated Investments/(Capital+ Reserves and Surplus) 41.6% 41.6% 35.0% 35.0%
18 Investment Yield- (Gross and Net) - Fund wise and With/Without realised gain#
A. with realised gains
Shareholders’ funds 11.9% 11.1% 9.1% 9.6%
Policyholders’ funds
Non linked
Participating 18.3% 15.5% 8.1% 7.4%
Non participating 9.1% 8.3% 7.5% 7.1%
Linked
Non participating 25.9% 23.8% 11.8% 9.9%
B. with unrealised gains
Shareholders’ funds 16.4% 15.0% 6.9% 11.8%
Policyholders’ funds
Non linked
Participating 21.7% 19.3% 6.6% 12.4%
Non participating 15.5% 12.7% 5.2% 8.6%
Linked
Non participating 31.9% 37.9% 23.7% 33.7%

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Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001

Form L-22 : Analytical Ratios

For the Upto the For the Upto the
Sr. No. Particulars quarter ended period ended quarter ended quarter ended
30 September 2024 30 September 2024 30 September 2023 30 September 2023
Investment Yield without considering impairment loss- (Gross and Net) - Fund wise and With/Without
realised gain#
A. with realised gains
Shareholders’ funds 11.9% 11.1% 9.2% 9.9%
Policyholders’ funds
Non linked
Participating 18.3% 15.5% 8.2% 7.7%
Non participating 9.1% 8.3% 7.5% 7.1%
Linked
Non participating 25.9% 23.8% 11.8% 9.9%
B. with unrealised gains
Shareholders’ funds 16.4% 15.0% 6.9% 12.1%
Policyholders’ funds
Non linked
Participating 21.7% 19.3% 6.7% 12.6%
Non participating 15.5% 12.7% 5.2% 8.6%
Linked
Non participating 31.9% 37.9% 23.7% 33.7%
Persistency Ratio - Premium Basis ( Regular Premium/Limited Premium Payment under Individual
19
category)##
For 13th month 80.9% 85.1% 80.1% 83.0%
For 25th month 71.5% 73.2% 71.4% 73.3%
For 37th month 65.0% 65.9% 62.5% 67.1%
For 49th month 61.5% 65.0% 60.0% 63.6%
For 61st month 51.7% 54.8% 52.6% 52.7%
Persistency Ratio - Premium Basis ( Single Premium/Fully paid-up under Individual category)
For 13th month 100.0% 100.0% 100.0% 100.0%
For 25th month 100.0% 100.0% 100.0% 100.0%
For 37th month 100.0% 100.0% 100.0% 100.0%
For 49th month 100.0% 100.0% 100.0% 100.0%
For 61st month 100.0% 100.0% 100.0% 100.0%
Persistency Ratio - Number of Policy Basis ( Regular Premium/Limited Premium Payment under
Individual category)
For 13th month 76.6% 80.3% 75.2% 78.1%
For 25th month 66.8% 68.8% 65.2% 66.0%
For 37th month 59.6% 59.7% 58.6% 59.5%
For 49th month 57.0% 57.2% 51.1% 54.4%
For 61st month 45.8% 47.8% 48.0% 46.2%
Persistency Ratio - Number of Policy Basis ( Single Premium/Fully paid-up under Individual category)
For 13th month 100.0% 100.0% 100.0% 100.0%
For 25th month 100.0% 100.0% 100.0% 100.0%
For 37th month 100.0% 100.0% 100.0% 100.0%
For 49th month 100.0% 100.0% 100.0% 100.0%
For 61st month 100.0% 100.0% 100.0% 100.0%
20 NPA Ratio
Policyholders' Funds
Gross NPA Ratio 0.0% 0.0% 0.0% 0.0%
Net NPA Ratio 0.0% 0.0% 0.0% 0.0%
Shareholders' Funds
Gross NPA Ratio 0.0% 0.0% 0.0% 0.0%
Net NPA Ratio 0.0% 0.0% 0.0% 0.0%
21 Solvency Ratio 378% 378% 466% 466%

22 Debt Equity Ratio NA NA NA NA

23 Debt Service Coverage Ratio NA NA NA NA

24 Interest Service Coverage Ratio NA NA NA NA

25 Average ticket size in Rs. - Individual premium (Non-Single) 82,142 82,520 81,845 77,060
Equity Holding Pattern for Life Insurers and information on earnings:
1 No. of shares 150,709,000 150,709,000 150,709,000 150,709,000
Percentage of shareholding
2 Indian 74% 74% 74% 74%
Foreign 26% 26% 26% 26%
3 Percentage of Government holding (in case of public sector insurance companies) 0% 0% 0% 0%
4 Basic EPS before extraordinary items (net of tax expense) for the year (not to be annualized) 9.8 16.3 12.8 23.1
5 Diluted EPS before extraordinary items (net of tax expense) for the year (not to be annualized) 9.8 16.3 12.8 23.1
6 Basic EPS after extraordinary items (net of tax expense) for the year (not to be annualized) 9.8 16.3 12.8 23.1
7 Diluted EPS after extraordinary items (net of tax expense) for the year (not to be annualized) 9.8 16.3 12.8 23.1
8 Book value per share (Rs) 725.2 725.2 711.9 711.9

Note:
* Excluding GST borne by unit linked policyholders'
** Surplus including contribution from shareholders' account
*** Includes individual and Group line of business
+ Due to no premium in either of the years
#
The return calculated is based on Modified Dietz method as prescribed in Master circular
##
The persistency ratios are calculated in accordance with the IRDAI circular no. IRDA/ACT/CIR/MISC/035/01/2014 dated 23 January 2014

a. Persistency ratios for the quarter ended September 30, 2024 have been calculated for the policies issued in June to August period of the relevant years. For example, the 13th month persistency for the quarter ended
September 30, 2024 is calculated for policies issued from June 1, 2023 to August 31, 2023.
b. Persistency ratios upto the quarter ended September 30, 2024 have been calculated for the policies issued in September to August period of the relevant years. For example, the 13th month persistency upto the quarter
ended September 30, 2024 is calculated for policies issued from September 1, 2022 to August 31, 2023
c. Persistency ratios for the quarter ended September 30, 2023 have been calculated for the policies issued in June to August period of the relevant years. For example, the 13th month persistency for the quarter ended
September 30, 2023 is calculated for policies issued from June 1, 2022 to August 31, 2022.
d. Persistency ratios upto the quarter ended September 30, 2023 have been calculated for the policies issued in September to August period of the relevant years. For example, the 13th month persistency upto the quarter
ended September 30, 2023 is calculated for policies issued from September 1, 2021 to August 31, 2022.

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 Bajaj Allianz Life Insurance Company Limited
Registration No. 116 ; Date of Registration - 3rd August 2001
Schedules forming part of financial statements
Form L-24 : Valuation of net liabilities (Rs. in Lakhs)
Mathematical Reserves as at Mathematical Reserves as at
Type Category of business
30 September 2024 30 September 2023
Non-Linked -VIP
Life - -
General Annuity - -
Pension - -
Health - -
Non-Linked -Others
Life 2,638,341 2,286,845
General Annuity - -
Pension 4,109 4,853
Health - -
Par
Linked -VIP
Life - -
General Annuity - -
Pension - -
Health - -
Linked-Others
Life - -
General Annuity - -
Pension - -
Health - -
Total Par 2,642,450 2,291,698
Non-Linked -VIP
Life 4,487 4,729
General Annuity - -
Pension 1,548 1,444
Health - -
Non-Linked -Others
Life 1,920,961 1,475,518
General Annuity 402,446 254,537
Pension 797,103 663,233
Health 2,575 2,371
Non-Par
Linked -VIP
Life - -
General Annuity - -
Pension - -
Health - -
Linked-Others
Life 5,011,312 3,776,323
General Annuity - -
Pension 62,667 66,884
Health - -
Total Non Par 8,203,099 6,245,039
Non-Linked -VIP
Life 4,487 4,729
General Annuity - -
Pension 1,548 1,444
Health - -
Non-Linked -Others
Life 4,559,302 3,762,363
General Annuity 402,446 254,537
Pension 801,212 668,086
Health 2,575 2,371
Total Business
Linked -VIP
Life - -
General Annuity - -
Pension - -
Health - -
Linked-Others -
Life 5,011,312 3,776,323
General Annuity - -
Pension 62,667 66,884
Health - -
Total 10,845,549 8,536,737

Refer IRDAI (Actuarial Report and Abstract for Life Insurance Business) Regulations, 2016, as amended from time to time.

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