India's Bajaj Group completes 23% stake acquisition in its insurance units from Allianz (updated)

Bajaj Finserv

08/01/2026 13:40

Adds details in paragraph 2,3

Jan 8 (Reuters) - India's Bajaj Group has acquired a 23% stake in its insurance subsidiaries from Allianz SE ALVG.DE for 213.90 billion rupees ($2.38 billion), group firm Bajaj Finserv BJFS.NS said on Thursday.

The acquisition gives Bajaj Finserv complete control of Bajaj General Insurance and Bajaj Life Insurance with a 75.01% stake and raises the group's overall holding in the two companies to 97%.

The transfer of Allianz's remaining 3% stake is expected to be completed over the next few months through a proposed buyback of shares by the insurance firms, Bajaj Finserv said.

The deal, the largest ever in the Indian insurance sector, brings a 24-year joint venture between Bajaj Finserv and the German insurer to an end.

($1 = 89.9160 Indian rupees)

 (Reporting by Nishit Navin; Editing by Shreya Biswas)

 ((Nishit.Navin@thomsonreuters.com;))