Bajaj Finserv disclosed its monthly premium underwriting data for September 2026, showing robust growth in its life insurance subsidiary's new business. Bajaj Life Insurance Limited reported total new business of ₹1,830.86 crore for the month, a significant increase from ₹1,374.58 crore in September 2025.

The filing, submitted to BSE and NSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights strong momentum in the group segment. Group single premium underwritten by the life insurer surged to ₹1,060.85 crore in September 2026, compared to ₹596.68 crore in the corresponding period last year.

General Insurance Performance

Bajaj General Insurance Limited recorded gross direct premium underwritten of ₹2,363 crore for September 2026. This represents a steady expansion from ₹2,219 crore logged in September 2025. On a year-to-date basis, up to September 2026, the general insurance arm underwrote ₹12,798 crore, compared to ₹11,554 crore during the same period in the previous fiscal year.

Life Insurance New Business Details

The life insurance subsidiary saw mixed performance across product lines, with substantial gains in single-premium products offsetting a slight decline in regular premium individual policies. Total new business for the month ended September 30, 2026, stood at ₹1,830.86 crore, marking a notable jump from the previous year.

What the Numbers Show

The data reveals a distinct shift in the mix of Bajaj Life Insurance's new business. While individual non-single premium (regular pay) declined slightly to ₹638.43 crore from ₹694.11 crore, the overall growth was driven by a massive spike in group single premiums. This category more than doubled year-on-year, rising from ₹596.68 crore to ₹1,060.85 crore. Consequently, group single premiums now constitute approximately 58% of the total monthly new business, highlighting a heavy reliance on bulk corporate policies for current growth metrics.

Bajaj Finserv plans to apply to the Insurance Regulatory and Development Authority of India (IRDAI) for a reinsurance business licence within the next two months.

Reinsurance expansion plans

The move signals Bajaj Finserv's intent to enter the reinsurance segment, which involves insurers transferring portions of risk portfolios to other parties to reduce the likelihood of paying large obligations from significant events. The application, to be filed with IRDAI, is expected to be submitted within the next two months as stated by the company.

Bajaj Finserv's planned foray into reinsurance would represent an addition to its existing financial services portfolio, which spans insurance, lending, and investment businesses. The company's decision to seek a reinsurance licence from IRDAI underscores its intent to broaden its presence across the broader insurance value chain.