Bajaj to buy out Allianz’s stakes in insurance joint ventures

Bajaj group will take over Allianz’s 26% stakes in their insurance ventures for Rs 24,180 crore, making both insurers entirely Indian-owned. Bajaj Finserv’s stake will rise to over 75% in both firms. This acquisition ends a 24-year partnership with Allianz, allowing both to pursue independent insurance strategies in India, enhancing shareholder value.