Bajaj Group completes acquisition of 23% stake in insurance ventures from Allianz

The acquisition takes the ownership of the Bajaj Group in both insurance companies to 97% from 74%, giving Bajaj Finserv, complete control of the insurance companies with 75.01% stake, per a Bajaj Finserv statement.
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Bajaj Finserv, in collaboration with Bajaj Holdings & Investment Ltd and Jamnalal Sons Pvt Ltd, has finalized the purchase of 23 percent stake in its insurance subsidiaries—Bajaj General Insurance and Bajaj Life Insurance—from Allianz SE, amounting to ₹12,190 crore and ₹9,200 crore respectively.

Following this deal, the Bajaj Group’s ownership in both insurance entities rises to 97 percent from its earlier 74 percent, solidifying Bajaj Finserv’s majority control with 75.01 percent ownership, according to a company announcement.

This agreement concludes the 24-year partnership between Bajaj Finserv, the primary investment arm of the Bajaj Group, and Germany’s Allianz SE in India’s financial sector.

Bajaj Finserv indicated that Allianz’s residual 3 percent stake is slated for transfer in the coming months, pending regulatory clearances, through a prospective buyback arrangement by the insurance firms.

Upon completion of the buyback, Bajaj Finserv’s stake is anticipated to reach roughly 77.3 percent, with Bajaj Holdings & Investment Ltd retaining approximately 18.1 percent and Jamnalal Sons Pvt Ltd holding the remainder.

Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, commented: “This acquisition enhances our operational agility to explore new markets, innovate products, and accelerate expansion as India’s insurance adoption is poised for substantial growth in the coming decades.”

S Sreenivasan, President of Insurance & Special Projects at Bajaj Finserv, stated: “This transaction also underscores the potential of domestic capital—fully financed by the Bajaj Group without external borrowings. Receiving CCI and IRDAI approvals for Allianz’s 26% stake in under four months reflects India’s investment-friendly ecosystem.”

Meanwhile, Allianz SE confirmed plans to reallocate proceeds toward strategic priorities, including investments in new Indian ventures.

“India continues to be a pivotal market for Allianz, where we aim to sustain our presence in its rapidly evolving insurance landscape. On July 18, 2025, Allianz Europe B.V. entered binding terms with Jio Financial Services Limited (JFSL) for a 50:50 domestic reinsurance joint venture and non-binding agreements for equally owned general and life insurance collaborations,” the company added.

Published on January 8, 2026