Bajaj Group acquires 23% stake in insurance companies from Allianz SE for Rs 21,390 cr

Bajaj Finserv, in partnership with Bajaj Holdings & Investment Limited and Jamnalal Sons Private Limited, has successfully acquired a 23% stake in its insurance subsidiaries—Bajaj General Insurance and Bajaj Life Insurance—from Allianz SE, for Rs 12,190 crore and Rs 9,200 crore respectively. With this acquisition, the Bajaj Group now holds 97% ownership in both companies, giving Bajaj Finserv complete control with 75.01% stake.

This acquisition concludes a 24-year joint venture between Bajaj Finserv and Allianz SE. The transfer of Allianz’s remaining 3% stake is expected through a proposed buyback in the coming months, which would raise Bajaj Finserv’s stake to approximately 77.3%, with Bajaj Holdings & Investment Limited holding about 18.1%, and the rest with Jamnalal Sons Private Limited.

The transaction is the largest ever in the Indian insurance sector and represents one of the most significant acquisitions of a global joint venture partner by an Indian business group. The deal will not impact ongoing operations or the interests of policyholders and business partners.

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said,

"This transaction is transformative for the Bajaj Group, enabling us to contribute even more strongly to the government’s vision of ‘Insurance for All’ that is Made in India, Made for India, and Made by India."

He added that the acquisition provides strategic flexibility to enter new markets, introduce new products, build scale, and advance growth, as insurance penetration in India is expected to grow exponentially over the next two decades. The company aims to continue serving millions of policyholders while delivering long-term value to shareholders.

S Sreenivasan, President – Insurance & Special Projects, Bajaj Finserv, highlighted the strength of domestic capital, noting that the acquisition was fully funded by the Bajaj Group without leverage. Approvals from CCI and IRDAI were received within four months, sending a strong message to investors about ease of doing business in India. He also pointed out that new regulatory frameworks, including the Sabka Bima Sabki Raksha Act, 2025, Ind-AS, and Risk-Based Capital norms, will provide a tailwind for sustained growth.

The transition to full Indian ownership began with the rebranding of both companies in October 2025 under the slogan: “100% Bajaj. Made in India. Made for India. Made by India”, alongside the refreshed Bajaj Finserv Group identity. The corporate headquarters of both insurance units will remain in Pune.

For nearly 25 years, Bajaj General Insurance and Bajaj Life Insurance have served millions of customers with life, asset, and health protection solutions, leveraging digital-first strategies and AI technology to enhance engagement and deliver value.