Allianz SE mulls exit from Bajaj Insurance joint ventures

Bajaj Finserv holds a 74% stake in both joint ventures.

India's Bajaj Finserv announced on Tuesday that Germany's Allianz SE is considering exiting their joint ventures in life and general insurance, a partnership that has spanned over two decades, reported Reuters.

Bajaj Finserv, which holds a 74% stake in both joint ventures, disclosed that Allianz, holding the remaining 26%, has signalled its intent to divest as part of its shifting strategic priorities.

Discussions on the matter are still in preliminary stages.

Established in 2001, Bajaj Allianz General Insurance ranks amongst India’s largest private insurers, whilst Bajaj Allianz Life Insurance is one of the country's fastest-growing life insurers, managing assets worth over $11.89b.

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