Bajaj Allianz Life Insurance expects its unit linked insurance plans (ULIP) portfolio to come on par with its traditional products portfolio.
According to Anuj Agarwal, MD and Chief Executive, Bajaj Allianz, the company will, however, not purposely bring down its ULIP portfolio.
ULIPs account for nearly 70 per cent of the company’s portfolio.
“We will not purposely bring down the ULIP portfolio, but we might see it come down in the future,” he told reporters on the sidelines of a seminar organised by the Bengal Chamber of Commerce and Industry (BCCI).
Agarwal ruled out immediate chances of either an IPO or about Allianz hiking its stake in the insurance company.
Bajan Allianz is a 74-26 joint venture between Bajaj Finserv and the Allianz SE.