Emerging risks | Growth Opportunities | APAC Insurance

Wednesday, October 29, 2025

Emerging risks | Growth opportunities | APAC insurance

Wednesday, 29 October 2025

Dedicated hubs

Browse content

Bajaj rebrands insurance businesses after securing final regulatory approvals for Allianz buyout

The former Bajaj Allianz ventures will now operate as Bajaj General Insurance and Bajaj Life Insurance under full Bajaj Finserv ownership
Bajaj rebrands insurance businesses after securing final regulatory approvals for allianz buyout  rein asia

(Re)in Summary

• India’s Bajaj Finserv has received final regulatory approval to acquire Allianz’s 26% stake in its insurance joint ventures.
• The businesses have rebranded the entities as Bajaj General Insurance and Bajaj Life Insurance.
• The deal, valued at 241.8bn rupees (approx. US$2.73bn), ends a 24-year partnership and is set to be completed in November.
• Allianz remains focused on India, launching a 50:50 reinsurance joint venture with Jio Financial in September.
• Bajaj Allianz General Insurance reported 22.19bn rupees in gross direct premiums in September, up 31.4%; Bajaj Allianz Life Insurance logged 14.85bn rupees in new business premiums in August.

Bajaj Finserv has taken full ownership of its insurance joint ventures and rebranded the businesses as Bajaj General Insurance and Bajaj Life Insurance, the company announced on Tuesday, 8 October.

The move follows a share purchase agreement signed in March to acquire the 26% stake previously held by Germany’s Allianz SE in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, with Bajaj Finserv now confirming it has obtained all necessary regulatory approvals, including those from the Registrar of Companies, the Competition Commission of India, and the Insurance Regulatory and Development Authority of India.

The acquisition, expected to be completed by November, raises Bajaj’s stake from 74% to full ownership and ends a 24-year partnership between Bajaj and Allianz that began in 2001.

The purchase price under the share agreements is ₹24,180 crore (approximately US$2.73bn) and the transaction will be completed in tranches, with the initial tranche transferring at least a 6.1% stake, after which Allianz will be reclassified from promoter to investor.

Bajaj Finserv Chairman and Managing Director Sanjiv Bajaj said the rebranding is a “defining moment in the strategic transformation of both our insurance businesses,” adding that it supports the business’s long-standing commitment to “supporting the nation’s growth and making financial protection accessible and inclusive for all.”

In line with the rebrand, the business announced it had launched a new marketing campaign: “100% Bajaj, Made in India. Made for India, Made by India.”

Recent data shows premium growth in both arms. Bajaj Allianz General Insurance wrote gross direct premium of ₹20.63bn in August, up 18.8% from August 2024. In September, the general insurer posted 31.4% year-on-year premium growth to ₹22.19bn. Bajaj Allianz Life Insurance meanwhile recorded ₹14.85bn in new business premiums in August.

For Allianz, India remains a priority market, with the German insurer stating in March that the country “continues to be one of Allianz’s growth markets.”

In July, the business announced a 50:50 joint venture with Jio Financial to form a domestic reinsurance business in India and, last month, they formally incorporated the venture as Allianz Jio Reinsurance Ltd, following regulatory approvals.

Share this article

Read next