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Bajaj Allianz General Insurance
Bajaj Allianz General Insurance[2] is a private general insurance company in India.[3] The company is a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto
Bajaj Auto
Limited) owned by the Bajaj Group of India
India
and Allianz SE, a German financial services company. History[edit] Bajaj Allianz General Insurance
Insurance
received an Insurance
Insurance
Regulatory and Development Authority of India
India
(IRDAI) certificate of registration on 2 May 2001 to conduct general insurance business, including health insurance, in India. In the first year of its operations the company had 36 offices and around 100 employees. The company started its operations with a paid up capital of ₹1.10 billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE
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List Of Business Entities
A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability company and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province
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Private Limited
A private company limited by shares is a class of private limited company incorporated under the laws of England and Wales, Scotland, certain Commonwealth countries, and the Republic of Ireland. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of a public limited company (plc). "Limited by shares" means that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thus protected in the event of the company's insolvency, but any money invested in the company may be lost. A limited company may be "private" or "public". A private limited company's disclosure requirements are lighter, but its shares may not be offered to the general public and therefore cannot be traded on a public stock exchange
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Pune
Nickname(s): Oxford of the East, Queen of Deccan creative city[1][2]PunePune Show map of IndiaPune Pune
Pune
(Maharashtra) Show map of MaharashtraCoordinates: 18°31′13″N 73°51′24″E / 18.52028°N 73.85667°E / 18.52028; 73.85667Coordinates: 18°31′13″N 73°51′24″E / 18.52028°N 73.85667°E / 18.52028; 73.85667Country  IndiaState MaharashtraDistrict PuneGovernment • Type Mayor–Council • Mayor Mukta Tilak (BJP)[3][4] • Municipal Commissioner Mr
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India
India, officially the Republic
Republic
of India
India
(IAST: Bhārat Gaṇarājya),[e] is a country in South Asia. It is the seventh-largest country by area, the second-most populous country (with over 1.2 billion people), and the most populous democracy in the world. It is bounded by the Indian Ocean
Indian Ocean
on the south, the Arabian Sea on the southwest, and the Bay of Bengal
Bay of Bengal
on the southeast. It shares land borders with Pakistan
Pakistan
to the west;[f] China, Nepal, and Bhutan
Bhutan
to the northeast; and Myanmar
Myanmar
and Bangladesh
Bangladesh
to the east. In the Indian Ocean, India
India
is in the vicinity of Sri Lanka
Sri Lanka
and the Maldives
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Net Income
In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.[1] It is computed as the residual of all revenues and gains over all expenses and losses for the period,[2] and has also been defined as the net increase in shareholders' equity that results from a company's operations.[3] In the context of the presentation of financial statements, the IFRS Foundation
IFRS Foundation
defines net income as synonymous with profit and loss.[1] Net income
Net income
is the same as net profit but a distinct accounting concept from profit
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Parent Company
A parent company is a company that owns enough voting stock in another firm to control management and operation by doing and influencing or electing its board of directors
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Insurance
Insurance
Insurance
is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss
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Bajaj Auto
This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. (February 2016) (Learn how and when to remove this template message) Bajaj Auto
Bajaj Auto
Limited is a global two-wheeler and three-wheeler Indian manufacturing company.[3] Bajaj Auto
Bajaj Auto
manufactures and sells motorcycles, scooters and auto rickshaws. Bajaj Auto
Bajaj Auto
is a part of the Bajaj Group. It was founded by Jamnalal Bajaj
Jamnalal Bajaj
in Rajasthan
Rajasthan
in the 1940s
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Special
Special
Special
or specials may refer to:Contents1 Music 2 Film and television 3 Other uses 4 See alsoMusic[edit] Special
Special
(album), a 1992 album by Vesta Williams "Special" (Garbage song), 1998 "Special
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Insurance In India
Insurance in India refers to the market for insurance in India which covers both the public and private sector organisations. It is listed in the Constitution of India
Constitution of India
in the Seventh Schedule as a Union List subject, meaning it can only be legislated by the Central government. The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and also allowing foreign direct investment
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Bajaj Finserv
Bajaj Finserv, a part of Bajaj Holdings & Investments Limited, is an Indian financial services company[1][2] focused on lending, asset management, wealth management and insurance.[3][4][5] The company employs over 20,000 employees at 1400 locations, and is engaged in consumer finance businesses, life insurance, and general insurance.[6] Apart from financial services, Bajaj Finserv is also active in wind–energy generation.[7][8] Bajaj Finserv was ranked among The Economic Times 500 as #119 in 2014.[9] Background[edit] The financial S and wind energy businesses were transferred to Bajaj Finserv Limited (BFS) as part of the recently concluded demerger from Bajaj Auto Limited, approved by the High Court of Judicature at Bombay by its order dated 18 December 2007. The demerger was effective on 31 March 2007.[10] Bajaj Holdings has been registered as a Non–Banking Financial Company (NBFC) under the Registration No. N–13.01952 dated 29 October 2009 with Reserve Bank of India (RBI)
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Insurance Regulatory And Development Authority Of India
The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.[1] It was constituted by the Insurance Regulatory and Development Authority Act, 1999,[2] an Act of Parliament passed by the Government of India.[3] The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.[4] IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.Contents1 History 2 Structure 3 Functions 4 Insurance repository 5 References 6 External linksHistory[edit] In India insurance was mentioned in the writings of Manu (Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthashastra), which examined the pooling of resources for redistribution after fire, floods, epidemics and famine
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Allianz SE
Allianz SE[2] (/ˈæliənts/ AL-i-ənts; German pronunciation: [aliˈants] ( listen)) is a European financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. As of 2014, it is the world's largest insurance company, the largest financial services group and the largest company according to a composite measure by Forbes magazine,[3] as well as the largest financial services company when measured by 2013 revenue
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Tapan Singhel
Tapan Singhel (born 12 August 1966) has been the Managing Director (MD) and Chief Executive Officer (CEO) of Bajaj Allianz General Insurance since April 2012.Contents1 Career 2 Education 3 Awards and recognition 4 References 5 External linksCareer[edit] Tapan started his career with New India Assurance Company Limited as a direct officer in 1991. He was a member of the board of directors for Berkshire India Limited and Berkshire Hathway Services India Private Limited during 2011-12. He is also the president of the Indo-German Chamber of Commerce and was earlier the vice-president for the year 2013-14. Before becoming the MD and CEO, Tapan was the chief marketing officer at Bajaj Allianz General Insurance, heading all retail channels and territories. He has been with Bajaj Allianz since its inception in 2001. Tapan was also involved in various international projects such as setting up a retail business for Allianz in China
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Bajaj Allianz General Insurance
Bajaj Allianz General Insurance[2] is a private general insurance company in India.[3] The company is a joint venture between Bajaj Finserv Limited (formerly part of Bajaj Auto
Bajaj Auto
Limited) owned by the Bajaj Group of India
India
and Allianz SE, a German financial services company. History[edit] Bajaj Allianz General Insurance
Insurance
received an Insurance
Insurance
Regulatory and Development Authority of India
India
(IRDAI) certificate of registration on 2 May 2001 to conduct general insurance business, including health insurance, in India. In the first year of its operations the company had 36 offices and around 100 employees. The company started its operations with a paid up capital of ₹1.10 billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz SE
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