Allianz sells 23% Bajaj JV stake for $2.5b.

The insurer also expects $1.3b IFRS gain in Q1 2026.

Allianz SE has completed the sale of 23% of its shares in Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company to the Bajaj Promoter Group for a gross consideration of about $2.5b (€2.1b).

The German insurer said it expects to complete the sale of its remaining 3% stake by the second quarter of 2026.

The partnership between Allianz and Bajaj began in 2001. Allianz said its ability to operate in the Indian market had remained limited due to its minority shareholding in the joint ventures.

The decision to exit followed discussions with Bajaj, and the company said regulatory approvals were completed smoothly.

Based on current exchange rates, the insurer expects to book a non-operating IFRS gain of around $1.3b (€1.1b) in its first-quarter 2026 results.

It also expects the transaction to lift its Group Solvency II ratio by about five percentage points. Over 2026, Allianz plans to use the gain to fund strategic growth initiatives and to reinvest fixed income assets into higher-yielding instruments.

($1.00 = €0.86)