Bajaj Group said on Thursday that it has successfully paid Allianz SE ₹12,190 crore and ₹9,200 crore, respectively, for a 23% share in its insurance companies, Bajaj General Insurance and Bajaj Life Insurance. Bajaj Finserv, Bajaj Holdings & Investment Ltd., and Jamnalal Sons Pvt Ltd were involved in the transaction.
Bajaj Group Gains 97% Ownership of Insurance Companies
The Bajaj Group now owns 97% of both insurers, up from 74%, thanks to this deal, while Bajaj Finserv now has a controlling 75.01% interest and complete managerial control. The agreement also ends the 24-year partnership between German banking giant Allianz SE and Bajaj Finserv.
Subject to relevant laws and regulatory permissions, the insurance firms’ intended repurchase of shares is anticipated to complete the transfer of Allianz’s remaining 3% holding over the course of the next few months, according to a statement from Bajaj Finserv. After the repurchase, Bajaj Finserv will possess around 77.3% of the life and general insurance companies, while Bajaj Holdings & Investment will control roughly 18.1%. Jamnalal Sons Pvt Ltd would own the remaining shares.
Transformational Move for ‘Insurance for All’
Sanjiv Bajaj, Chairman & Managing Director of Bajaj Finserv, said in the press release, “The deal is transformational for the Bajaj Group, allowing us to contribute even more significantly to the government’s objective of ‘Insurance for All’ that is Made in India, Made for India, and Made by India.”
“With insurance coverage in India expected to rise rapidly over the next two decades, the purchase gives us strategic freedom to reach new markets, launch new products, establish scale, and accelerate growth,” he said.
For a total value of ₹24,180 crore, Bajaj Finserv Ltd. and Allianz SE inked share purchase agreements in March 2025 to buy the German insurer’s whole 26% shareholding in the life and general insurance joint ventures. The deal was one of the biggest purchases of a worldwide joint venture partner by an Indian corporate company and the biggest in the country’s insurance industry.
Quick Regulatory Approvals Signal Ease of Doing Business
The transaction’s leader, S Sreenivasan, President of Insurance & Special Projects at Bajaj Finserv, said that licenses from the Competition Commission of India and the insurance regulator Irdai were obtained in less than four months, sending a clear message to investors about how simple it is to do business in India.
The development follows the enactment of the Insurance Amendment Bill, 2025, which completely opened the insurance industry to foreign investment in an effort to increase the country’s insurance penetration and draw in more international cash and experience.
Full Indian Control and Renaming of Insurance Firms
The renaming of the insurance businesses as Bajaj General Insurance and Bajaj Life Insurance in October 2025, which eliminated the Allianz name from both organizations, marked the beginning of the shift to full Indian control. According to the corporation, both insurers’ corporate headquarters would remain in Pune.
🏦 Bajaj Group Acquisition Highlights
- Amount Paid: ₹12,190 crore (Bajaj General) & ₹9,200 crore (Bajaj Life)
- Stake Acquired: 23% from Allianz SE
- Current Ownership: 97% of both insurers
- Leading Companies: Bajaj Finserv, Bajaj Holdings & Investment, Jamnalal Sons
- Significance: Ends 24-year Allianz partnership
Frequently Asked Questions
1. What portion of Allianz SE did Bajaj Group purchase?
Bajaj Group increased its ownership of both insurers to 97% by acquiring a 23% share in Bajaj General Insurance (₹12,190 crore) and Bajaj Life Insurance (₹9,200 crore).
2. Who oversaw the purchase and is now in charge of the businesses?
Jamnalal Sons Pvt Ltd, Bajaj Holdings & Investment Ltd, and Bajaj Finserv spearheaded the purchase. With a dominant 75.01% ownership, Bajaj Finserv has complete managerial control.
3. What happens to the 3% share that Allianz still owns?
Subject to regulatory permissions, the insurance firms plan to repurchase the remaining 3% ownership over the next months.
4. What makes this purchase noteworthy?
In addition to concluding a 24-year joint venture with Allianz SE, it is the largest-ever deal in India’s insurance industry and provides Bajaj Group the strategic freedom to grow its product line, scale, and enter new markets.
5. What effect does this have on India’s insurance industry?
Following the Insurance Amendment Bill, 2025, which promotes foreign investment and increases insurance penetration, the action fortifies “Insurance for All” under Indian control.
📈 Strategic Benefits & Growth Potential
- Strategic Freedom: Launch new products & reach new markets
- Scale Expansion: Build larger insurance portfolios
- Long-Term Growth: Strengthens India’s insurance penetration
- Investor Confidence: Signals ease of doing business in India
- Made in India: Fully Indian-controlled insurance firms
Conclusion
The Bajaj Group’s whole purchase of Allianz SE’s insurance companies is a game-changing move that gives the company ultimate control and sets it up for long-term success in the Indian insurance industry. It increases investor trust in the insurance industry while reflecting a move toward completely Indian-owned insurance companies.
Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice.
