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Allianz to sell its 26% stake in its Indian Non-Life and Life Insurance Joint Ventures to Bajaj Group for a total consideration of EUR ~2.6bn

Allianz SE | Munich | Mar 17, 2025

Today, Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd. to sell its 26% stake in its successful non-life and life insurance joint ventures – Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company – to the Bajaj Group for a total consideration of EUR ~2.6bn. Allianz may receive the proceeds in several tranches.

Today, Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd. to sell its 26% stake in its successful non-life and life insurance joint ventures – Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company – to the Bajaj Group for a total consideration of EUR ~2.6bn1. Allianz may receive the proceeds in several tranches. 

The decision to sell is the result of constructive and amicable talks with Bajaj Finserv Ltd. India continues to be one of Allianz’s growth markets, and Allianz will explore new opportunities that strengthen its position in the market and expand its potential to serve not only as an investor but also as an operator. 

As the proceeds become available, Allianz will consider options for their deployment that support the company’s strategic ambitions, in particular the reinvestment of sale proceeds into potential new opportunities in India. Allianz will adhere to its capital management policy as updated at the December 2024 Capital Markets Day, which includes a minimum level of distribution of earnings2 alongside the flexibility to fund disciplined deployment. 

The transaction is subject to obtaining necessary regulatory approvals, which are expected to take a number of months. Upon the transfer of shares and the cessation of Allianz being a promotor of the joint ventures, also the joint venture agreements between Allianz SE and Bajaj Finserv Ltd. will be terminated.

1 Based on current FX rates. Anticipated IFRS gain EUR ~1.3bn / Solvency II impact +6-7%-p
2 Earnings adjusted for extraordinary and volatile items

For further information please contact

Frank Stoffel
Allianz SE
+49 160 9011 5157
Send email
Heidi Polke
Allianz SE
+49 89 3800 90777
Send email
Fabrizio Tolotti
Allianz SE
+49 151 5995 6396
Send email
Johanna Oltmann
Allianz SE
+49 151 1164 6551
Send email

About Allianz

Last updated: September 23, 2026

The Allianz Group is one of the world’s leading insurers and asset managers, active in almost 70 countries and serving around 97 million private and corporate customers*. Our customers benefit from a broad range of personal and corporate insurance services, including property, life and health insurance, as well as assistance services, credit and global business insurance. Recognized for the seventh consecutive year as the number one global insurance brand in Interbrand’s Best Global Brands 2025 ranking, Allianz’s success is built on technology-enabled customer centricity – providing peace of mind, protection, and prevention for our customers and strengthening the resilience of individuals, communities, and societies. We are one of the world’s largest investors, managing around 791 billion euros** on behalf of our insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 2.2 trillion euros** of third-party assets. Thanks to our systematic integration of environmental and social criteria in our business processes and investment decisions, Allianz received an MSCI ESG Rating of AAA (as of March 2026). In 2025, our 156,000 dedicated employees achieved a total business volume of 186.9 billion euros and an operating profit of 17.4 billion euros for our shareholders.

* As of December 31, 2025. Customer count reflects Allianz customers in consolidated entities that are part of the customer reporting scope only.

** As of June 30, 2026.

Cautionary note regarding forward-looking statements

As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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