Factuary

Bajaj Allianz General Insurance — Distribution Mix

Bajaj Allianz General Insurance's new business was led by the Brokers channel at 48.7% of premium for Q1 FY26-27, as reported in IRDAI form NL-36.

combined ratio, Q1 FY26-27
104.7%
+1.0 pts
incurred claims ratio, Q1 FY26-27
74.3%
+3.2 pts
net commission ratio, Q1 FY26-27
8.9%
−0.3 pts
expense ratio to gross premium, Q1 FY26-27
29.5%
−1.5 pts
Total premium, Q1 FY26-27
₹5,76,880 lakh
+11.6%
Leading channel, Q1 FY26-27
Brokers
48.7% of premium

Channel mix — quarter ended Q1 FY26-27 vs. Q1 FY25-26 (year ago)

Channel groupPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Brokers21,90,021₹2,81,025 lakh (48.7%)42,46,487₹2,84,109 lakh (54.9%)
Agents/POSP9,76,024₹1,07,142 lakh (18.6%)9,85,047₹96,085 lakh (18.6%)
Agents/POSP channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Individual Agents6,53,974₹86,223 lakh6,51,387₹77,896 lakh
Point of Sales Person (Direct)3,22,050₹20,919 lakh3,33,660₹18,189 lakh
Direct Website32,012₹2,189 lakh (0.4%)1,47,207₹2,311 lakh (0.4%)
Banks20,36,111₹49,617 lakh (8.6%)18,07,421₹41,088 lakh (7.9%)
Direct non-website9,34,464₹1,15,687 lakh (20.1%)7,64,227₹75,050 lakh (14.5%)
Direct non-website channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Direct Business – Officers/Employees0₹0 lakh0₹0 lakh
Direct Business – Others9,34,464₹1,15,687 lakh7,64,227₹75,050 lakh
Corporate Agents16,36,367₹11,268 lakh (2.0%)7,14,847₹8,069 lakh (1.6%)
Others2,33,809₹9,952 lakh (1.7%)2,13,725₹10,343 lakh (2.0%)
Others channels (7)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Micro Agents0₹0 lakh0₹0 lakh
Common Service Centres (CSC)98,274₹-563 lakh40,598₹47 lakh
Insurance Marketing Firm5,664₹1,433 lakh6,737₹912 lakh
MISP (Direct)1,27,141₹9,048 lakh1,60,732₹9,315 lakh
Web Aggregators2,730₹34 lakh5,658₹69 lakh
Referral Arrangements0₹0 lakh0₹0 lakh
OtherNot disclosedNot disclosed0₹0 lakh
Total, India80,38,808₹5,76,880 lakh (100%)88,78,961₹5,17,055 lakh (100%)

Per IRDAI Form NL-36 (Business Channels Wise), "For the Quarter" column. Channels are grouped into ARGO's own 7-way classification (Brokers, Agents/POSP, Direct Website, Banks, Direct non-website, Corporate Agents, Others) — click a group with more than one channel to see its own breakdown. "Total, India" sums the 15 channels extracted here and excludes "Business outside India," a separate geography line on the same form. Some insurers report "Direct Business"'s sub-channels (Officers/Employees, Online, Others) as one combined figure rather than a real breakdown — shown as "Not disclosed" for those rows rather than guessed.

Total premium by quarter, trend

PeriodTotal, India premiumPolicies
Q2 FY25-26₹6,38,380 lakh96,50,799
Q3 FY25-26₹7,32,481 lakh89,44,336
Q4 FY25-26₹4,29,935 lakh97,96,126
Q1 FY26-27₹5,76,880 lakh80,38,808
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