Allianz concludes 23% stake sale in Bajaj insurance JVs

Group 1 - Allianz has completed the sale of a 23% stake in Bajaj General Insurance Company and Bajaj Life Insurance Company to Bajaj Promoter Group, valued at approximately €2.1 billion ($2.4 billion) [1] - Following this transaction, Bajaj Finserv and its group companies now hold 97% ownership in each insurance entity, with the joint venture arrangements between Bajaj Finserv and Allianz concluding on January 8, 2026 [1][2] - Allianz plans to divest its remaining 3% interest by the end of July 2026, potentially through a buyback or other methods [2] Group 2 - The partnership between Allianz and Bajaj began in 2001 and lasted over two decades, with a rebranding of the insurance companies to Bajaj General Insurance and Bajaj Life Insurance in October 2025 [2] - Allianz's minority stake in the joint ventures limited its role in the Indian market, prompting the company to seek new opportunities [3] - Allianz Europe announced a 50:50 joint venture with Jio Financial Services to establish a reinsurance venture in India, leveraging existing portfolios and global expertise [4]