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.

Awards and Recognition

Sanjiv Bajaj, Managing Director & CEO, received the following awards:

• Business World - India's Most Valuable CEOs in 2015 and 2016. 
  
• Bombay Management Association (BMA) - Entrepreneur of the Year Award 2015-16.
  
• Ernst & Young - EY Entrepreneur of the Year Award 2017. 
  
• India Today- Top 50 Power List 2017-18.
  
• Financial Express Best Banks Award 2019: Banker of the Year for 2017-18.
  
• Asia Centre’s Leadership, Corporate Governance, Sustainability and CSR Awards: Transformation Leader Award (Large Cap Category) in 2018.
  
• Entrepreneur of the Year India 2018 by AIMA.
  
• Entrepreneur of the Year India 2018 by ET Awards, the most prestigious business awards in India.
  
• Economic Times - ET Business Leader of the Year Award 2018.
  
• Financial Express Best Banks Award: Banker of the Year 2019.
  
• Entrepreneur of the Year India 2019 by All India Management Association (AIMA).

Key events:

• FY09: Bajaj Finserv and Allianz Global investors sign shareholders agreement to set up an asset management joint venture company in India.
• FY10: Bajaj Finserv (BFL) announces new brand identity and new businesses.
• FY10: Bajaj Finserv forays into infrastructure Finance.
• FY15: Bajaj Finserv is classified as a ‘core investment company’ as it does not have any public funds including deposits or borrowings.
• FY15: Bajaj Allianz General Insurance Company Funds Maharashtra’s first dedicated multi-specialty Centre for Epilepsy care as part of its CSR.
• FY15: Bajaj Finserv partners with SSBF as part of its CSR initiative.
• FY20: Bajaj Group commits Rs 100 crore for the fight against covid-19.
• FY20: Bajaj Finserv ties up with Narayana Nethralaya.
• FY20: Bajaj Finserv offers honeymoon holiday cover.
• FY20: Bajaj Finserv offers attractive discounts, coupon deals on Vivo Smartphones.
• FY21: Bajaj Finserv launches a new health-tech venture - Bajaj Finserv Health.
• FY21: Bajaj Finserv partners with Reliance Digital.