Mumbai, June 2 :    Mumbai, June 2:  Bajaj Allianz General Insurance, which has captured an incredible 65 per cent share of the insurance market for new vehicles in the early part of this year, may put the brakes on its current pace of garnering business in the segment. Auto insurance, especially new vehicles, is a risky proposition and many players are getting increasingly wary of treading into this area. Hence, other insurers are closely watching Bajaj Allianz review its strategy. Bajaj, through its tieups with car makers like Maruti, Hyundai, General Motors and Ford Motors, had ramped up its presence in the sector in a short time. Auto insurance accounted for almost two-thirds of Bajaj Allianz's total portfolio, chief operating officer Kamesh Goyal said. 'We plan to bring it down to 45 per cent this year,' he added. Speaking to The Telegraph, Goyal said: 'We have built some decent volumes and are currently monitoring this portfolio.' For general insurers, the business generated from the fire insurance segment is most profitable while auto ranks lowest on the profitability scale. 'An ideal portfolio for a general insurance company would be to peg the motor insurance exposure at a maximum level of 35 per cent,' M. D. Garde, general manager, New India Assurance Company, a public sector general insurance major said. 'Anything above this will put an insurance company at risk,' he averred. He said New India Assurance has maintained its exposure to motor insurance at 35 per cent. This is all the more in the case of business generated from new vehicle owners. 'This is because new vehicle owners are a finicky lot who would file claims even for small dents, a possibility which is remote for owners who have aged cars,' concurred a senior official affiliated to Tata AIG. Goyal, while admitting that the company has received insurance claims on this score said his company, has, through the cash-less route, settled claims through manufacturers' dealers who repair the vehicles and later file the claim on the insurer. At 15 per cent, the claims are high but not alarming, he declared. Bajaj Allianz hopes to garner a 50 per cent renewals from the new car owners when their policies come up for renewal, a hope rivals feel are highly ambitious. Meanwhile, Bajaj Allianz notched up Rs 142 crore as premium income and has targeted an income of Rs 185-200 crore in the current year, with motor insurance premium contributing just 45 per cent.