Overview

• Allianz has signed binding agreements to sell its 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance to Bajaj Group for $2.8 billion.
• The transaction will terminate a 24-year joint venture, with Allianz reclassified as an investor and Bajaj gaining full ownership of the insurance companies.
• The deal is subject to regulatory approvals from the Competition Commission of India (CCI) and the Insurance Regulatory and Development Authority of India (IRDAI).
• Bajaj Group aims to enhance operational efficiency and stakeholder value through single ownership, while Allianz plans to reinvest proceeds into new opportunities in India.
• Transitional agreements between Bajaj and Allianz will ensure continuity of reinsurance and other services during the ownership transfer.