The acquisition takes Bajaj Group’s ownership in both insurance companies from 74% to 97%, giving Bajaj Finserv full control of the insurance companies with a 75.01% stake, according to a statement from Bajaj Finserv. | Photo credit: REUTERS
The acquisition takes Bajaj Group’s ownership in both insurance companies from 74 percent to 97 percent, giving Bajaj Finserv full control of the insurance companies with a 75.01 percent stake, a Bajaj Finserv statement said.
This transaction marks the end of the 24-year joint venture of Bajaj Finserv (the Bajaj Group’s flagship investment company) and Allianz SE (the German multinational financial services company) in India.
Bajaj Finserve said the transfer of the remaining 3 percent stake of Allianz is expected to be completed in the coming months through a proposed share buyback by the insurance companies, subject to applicable laws and necessary approvals.
Once the buyback is completed, Bajaj Finserv’s stake is expected to rise to around 77.3 per cent, with Bajaj Holdings & Investment Ltd holding around 18.1 per cent stake, while the balance will be held by Jamnalal Sons Pvt Ltd, it added.
Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv, said, “The acquisition provides us with strategic flexibility to enter new markets, introduce new products, build scale and drive growth as insurance penetration in India will grow exponentially over the next two decades.”
S Sreenivasan, President – Insurance & Special Projects, Bajaj Finserv, said, “This deal also demonstrates the power of domestic capital… which is fully funded by the Bajaj Group without any influence. Approvals from CCI and IRDAI for the acquisition of Allianz’s 26% stake were received in just four months and this is a great message for those looking to invest in India and looking for convenience.”
In addition, Allianz SE said it will consider revenue realignment options that align with its strategic priorities. This includes investments in the new joint ventures in India.
“India remains an important growth market for Allianz, with a strong ambition to continue serving its dynamic and fast-growing insurance sector in the future.
“As announced on July 18, 2025, Allianz, through its wholly owned subsidiary Allianz Europe BV, and Jio Financial Services Limited (JFSL) have entered into a binding agreement to form a 50:50 domestic reinsurance joint venture and a non-binding agreement to establish equally owned joint ventures for both general and life insurance businesses in India,” the German company said.
Published on January 8, 2026
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