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ICICI Direct Report
Bajaj Finserv Ltd. is a financial conglomerate with a holding in the financing business (Bajaj Finance Ltd.), life insurance (Bajaj Life Insurance) and general insurance (Bajaj General Insurance) business.
Traction in insurance and digitisation in lending, is a long term positive.
Bajaj Finance launched the wallet business in July 2021 and aims to onboard ~2.5 crore customers by FY23.
Premium growth in general insurance at 20% for April-July21 aids market share gain of 30 basis points to 7.9%.
Life insurance premium jumped 40% YoY for April-July 2021 ahead of industry.
Foray into mutual fund business would add to overall franchisee.
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