Bajaj Finserv to acquire a 26% stake in Bajai Allianz General Insurance Company and Bajaj Allianz Life Insurance Company from Allianz for €2.6bn.

Bajaj Finserv, an Indian diversified financial services group, agreed to acquire a 26% stake in Bajai Allianz General Insurance Company and Bajaj Allianz Life Insurance Company, from Allianz, a German multinational financial services, for €2.6bn. "Together with Allianz, we have built two of the strongest insurance companies in India with a combined premium exceeding INR 400bn, while maintaining industry-best solvency margins. We remain committed to creating better access to insurance in India, greater financial resilience, and superior experience for our customers. Given the advantage of a single ownership in both companies, we are confident that the acquisition will become a big driver of value for our stakeholders in the years to come," Sanjiv Bajaj, Bajaj Finserv Chairman and Managing Director.