CORPORATE
Bajaj Finserv to buy out Allianz’s stakes in general, life insurance joint ventures
- IBJ Bureau
- Mar 18, 2025
In a landmark move that ends a 24-year partnership, Bajaj Finserv has announced that it will acquire Allianz’s entire 26 per cent stake in their joint insurance ventures – Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).
The Rs 24,180-crore transaction will hand full ownership of both the insurers to the Bajaj Group.
Bajaj Finserv has agreed to pay Rs 13,780 crore for Allianz’s stake in BAGIC and Rs 10,400 crore for BALIC. The move will mark the termination of the long-standing joint venture agreements once the first tranche – comprising at least 6.1 per cent – is completed and Allianz is reclassified from promoter to investor.
Under the deal, Bajaj Finserv will acquire about 1.01 per cent in each company, Bajaj Holdings and Investment will pick up 19.95 per cent, and Jamnalal Sons will take 5.04 per cent, aggregating to the full 26 per cent stake in both the companies.
Following the acquisition, Bajaj Finserv’s stake will rise to 75.01 per cent in both BAGIC and BALIC, solidifying its hold on the insurance businesses.
“This transaction is subject to regulatory approvals, including from the Competition Commission of India (CCI) and the Insurance Regulatory and Development Authority of India (IRDAI),” the company has said.
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