Bajaj Finserv completes acquisition of Allianz stake in insurance JVs

Mumbai: Bajaj Finserv and its promoter group companies have acquired a combined 97% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance from Allianz SE, ending a two-decade partnership with the German insurer, according to a stock exchange filing.

The acquisitions were carried out under share purchase agreements signed on March 17, 2025, and later amended. Bajaj Finserv said it bought about 1.11 million shares of Bajaj Allianz General Insurance and 1.52 million shares of Bajaj Allianz Life Insurance from Allianz. The shares were purchased at ₹4,808.24 apiece in the general insurer and ₹2,654.12 per share in the life insurer, adding 1.01% to its stake in each company.

After the transaction, Bajaj Finserv’s direct holding in both insurers increased to 75.01%. Promoter group firm Bajaj Holdings & Investment separately acquired a 17.56% stake in each insurer, while Jamnalal Sons bought an additional 4.43%, the filing showed. Together, the promoter entities now hold 97% of both insurance companies.