May 03, 2025 02:20 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Pahalgam attack: Supreme Court stays deportation of PoK-born man, his family with Indian passports | Cops charge OTT show's host Ajaz Khan, producer Rajkymar Pandey over 'sex positions' viral clip | 7.4 magnitude earthquake strikes off coast of Chile and Argentina, tsunami warning issued | PM Modi inaugurates Vizhinjam International Seaport in Kerala worth Rs. 8,800 crore | 'Many will get their sleep disturbed': Modi's veiled jibe at Congress over Shashi Tharoor, Pinarayi Vijayan's presence at Kerala event | Kashmir: Pakistani soldiers violate ceasefire for 8th consecutive night along LoC | Hope India's response to Pahalgam attack doesn't lead to broader regional conflict: JD Vance | Pahalgam attack: JD Vance says US hopes Pakistan will cooperate with India in hunting down terrorists | Shashi Tharoor welcomes PM Modi in Kerala, takes dig at 'dysfunctional' Delhi airport over flight delays | Air India will see a $600 million loss with Pakistan banning its airspace after Pahalgam attack: Report
Bajaj Allianz
Image credit: Sweet Madhura via Wikimedia Commons

Allianz 'actively considering exit' from Bajaj insurance joint ventures in India

| @indiablooms | Oct 23, 2024, at 07:25 pm

Mumbai/IBNS: Bajaj Finserv has announced that its joint venture partner, Allianz, is "actively considering" an exit from their life and general insurance ventures.

Allianz currently owns a 26 percent stake in both Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, with Bajaj Finserv holding the remaining 74 percent.

According to a regulatory filing by Bajaj Finserv, Allianz's decision is driven by its strategic priorities, but the discussions are still in the preliminary stages, and no formal proposals have been presented to the boards of either company.

Despite the possible departure, Allianz has assured that it will facilitate a smooth transition to mitigate any disruptions for policyholders, business partners, and employees.

Bajaj Finserv highlighted its successful collaboration with Allianz in building two robust insurance businesses.

Bajaj Allianz General Insurance is the third-largest insurer in India based on gross written premiums, while Bajaj Allianz Life Insurance has shown significant growth, with assets under management exceeding Rs 1 lakh crore as of March 31.

If Allianz proceeds with the exit, the transition would involve shifting full brand ownership to Bajaj, with Allianz offering its support to ensure continuity.

The focus would be on safeguarding the interests of all stakeholders, including policyholders and employees.

Although Allianz has not provided details on its future plans, it reaffirmed its commitment to the Indian insurance sector.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu