Allianz Sells $2.8 Billion Stake in Indian Insurance Joint Ventures to Bajaj Group

The 24-year partnership concludes as Bajaj consolidates full ownership, pending regulatory approvals in India.

Allianz has signed binding agreements to sell its 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance to Bajaj Group for $2.8 billion.
The transaction will terminate a 24-year joint venture, with Allianz reclassified as an investor and Bajaj gaining full ownership of the insurance companies.
The deal is subject to regulatory approvals from the Competition Commission of India (CCI) and the Insurance Regulatory and Development Authority of India (IRDAI).
Bajaj Group aims to enhance operational efficiency and stakeholder value through single ownership, while Allianz plans to reinvest proceeds into new opportunities in India.
Transitional agreements between Bajaj and Allianz will ensure continuity of reinsurance and other services during the ownership transfer.