Allianz SE Considers Withdrawing from Bajaj Insurance Joint Ventures

On Tuesday, India’s Bajaj Finserv announced that Germany’s Allianz SE is thinking about pulling out of their life and general insurance joint ventures. This partnership has lasted for more than 20 years.

Bajaj Finserv, which owns 74% in both joint ventures, said that Allianz, with a 26% stake, has indicated its plan to divest as part of a change in strategic priorities. The discussions are currently in the early stages.

The joint ventures have significant market positions. Bajaj Allianz General Insurance, established in 2001, is among India’s largest private insurers. Bajaj Allianz Life Insurance is one of the country’s fastest – growing life insurers, managing assets worth over $11.89 billion.

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