Bajaj Finserv (BFS) is the holding company under which there are three key financial sector businesses: (i) lending through Bajaj Finance (BFL), which is itself a listed company; (ii) general insurance, under Bajaj Allianz General Insurance Company (BAGIC); and (iii) life insurance, under Bajaj Allianz Life Insurance Company (BALIC). It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance and retirement and savings solutions. The insurance businesses are unlisted. In addition, there are wind farm assets in Maharashtra.

The company is a Core Investment Company (CIC) under the regulations of the Reserve Bank of India (RBI), not requiring registration with RBI. BFS and BFL adopted the Indian Accounting Standards (Ind AS) from 1 April 2018. Hence, the standalone and consolidated results of BFS for FY2019 are compliant with Ind AS. The financials for FY2018 have been restated to be Ind AS compliant and are, therefore, comparable.

Business area of the company

The company deals with financial services of the Bajaj Group. Its core businesses are spread across Lending, Insurance and Wealth Advisory.

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