Bajaj Finserv, along with promoter group entities Bajaj Holdings & Investment Limited and Jamnalal Sons Private Limited, has completed the acquisition of a 23 per cent stake in its insurance subsidiaries, Bajaj General Insurance and Bajaj Life Insurance, from Allianz SE, marking the conclusion of a 24-year joint venture between the two groups.
The transaction, valued at Rs 21,390 crore, is the largest ever in India’s insurance sector and one of the most significant buyouts of a global joint venture partner by an Indian business group. Bajaj Finserv acquired a 1.01 per cent stake in each insurer, taking its direct holding to 75.01 per cent, while the promoter group companies acquired an additional 22 per cent. As a result, the Bajaj Group now collectively holds 97 per cent ownership in both insurance companies.
The remaining 3 per cent stake held by Allianz SE is expected to be transferred over the coming months, subject to regulatory approvals, through a proposed buyback by the insurance companies or alternative mechanisms under the existing agreement. Completion of this final tranche is targeted by July 31, 2026.
With the acquisition, the joint venture agreements between Bajaj Finserv and Allianz SE have formally ended with effect from January 8, 2026. The transition to full Indian ownership began earlier with the rebranding of the companies as Bajaj General Insurance and Bajaj Life Insurance, reinforcing the group’s positioning of being “Made in India, Made for India, Made by India.”
Commenting on the development, Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv, said the transaction provides strategic flexibility to expand product offerings, access new markets, and build scale as insurance penetration in India accelerates. The company stated that the acquisition will have no impact on policyholders, partners, or ongoing operations.
The insurance businesses will continue to be headquartered in Pune and are expected to benefit from greater operational autonomy, stronger capital backing, and deeper integration with Bajaj Finserv’s broader financial services ecosystem.
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