Overview
- Bajaj Finserv, with Bajaj Holdings and Jamnalal Sons, purchased Allianz’s 23% in Bajaj General and Bajaj Life for Rs 12,190 crore and Rs 9,200 crore.
- Group ownership in each insurer rises to 97% from 74%, giving Bajaj Finserv effective control of about 75%.
- A proposed buyback is expected to transfer Allianz’s remaining ~3% in the coming months, which would lift Bajaj Finserv’s stake to roughly 77.3%, subject to approvals.
- CCI and IRDAI cleared the deal within four months, and the companies say operations and policyholder interests remain unchanged with headquarters in Pune.
- Management signals plans to expand into new products and markets, deploy technology including AI, and consider listings in four to five years.