Bajaj Group completes 23% stake acquisition in its insurance units from Allianz

Group 1 - Bajaj Group has acquired a 23% stake in its insurance subsidiaries from Allianz SE for 213.90 billion rupees ($2.38 billion) [2] - The acquisition gives Bajaj Finserv complete control of Bajaj General Insurance and Bajaj Life Insurance, raising its stake to 75.01% and overall holding in the two companies to 97% [2] - The deal marks the end of a 24-year joint venture between Bajaj Finserv and Allianz SE, and is noted as the largest ever in the Indian insurance sector [2]