| Life insurance | Life insurance, retirement, savings, and health protection products. | Strong brand, diverse distribution network, and data-driven underwriting. | Retail and institutional clients through agency and bancassurance channels. | Protection and unit-linked insurance products. | 32139 | 24 | Premiums, fund management fees, and investment returns. | Product pricing based on actuarial risk and premium payments; recurring premium income. | Increasing insurance penetration, product innovation, and expanding proprietary digital channels. | Bajaj Allianz Life Insurance Company Limited |
| General insurance | Motor, health, crop, commercial, and specialty insurance products. | Robust underwriting, diversified distribution, and superior claims management. | Individual customers, corporates, and government schemes. | Motor and health insurance segments. | 32034 | 24 | Premium collections and investment income. | Premium-based with risk-based underwriting; recurring renewal premiums. | Product diversification, deep rural penetration, and technology-enabled claims processing. | Bajaj Allianz General Insurance Company Limited |
| Retail financing | Consumer durable loans, personal loans, SME loans, gold loans, and mortgage financing. | Large customer franchise, data analytics driven credit assessment. | Retail consumers and small businesses. | Consumer durable and personal loans. | 69725 | 52 | Interest income and fees from loan products. | Interest accrued on loan book; combination of fixed and floating rates. | Broadening customer base, digital lending advances, and cross-selling initiatives. | Bajaj Finance Limited |
| Windmill | Renewable energy generation via wind farms. | Large wind power portfolio supporting group’s carbon neutrality. | Electricity distributors and utilities. | | 22 | 0 | Sale of generated electricity to third parties. | Power purchase agreements and market-based sale. | Government renewable energy policies and group sustainability goals. | |
| Investments and others | Investment holdings and financial services support activities. | Investment in high growth subsidiaries with future expansion potential. | Group subsidiaries and financial markets. | | 4006 | 3 | Dividend income, interest income, and other financial earnings. | Investment returns and service fees. | Strategic investments and capital management. | |
