Speaking about this Sam Ghosh, CEO Bajaj Allianze Life Insurance said," We have noticed that only HNI clients from the metro have switched in funds or moved out because of stock markets volatility." The company has posted nearly 130% growth in the first quarter of the financial year, he added.
Further, Ghosh said they are expecting a fall in the business arising from the single premium products. Currently, one third of business comes from the single premium products as against last years 50%, said Ghosh.
He also said that ULIPs growth would slow down with new guidelines issued by IRDA. Last month ULIP contributed 93% which is expected to come down to 85% he added.