Allianz SE Considers Exit from Bajaj Joint Ventures

Bajaj Finserv announced that Allianz SE of Germany is considering exiting its joint ventures in life and general insurance with Bajaj. Holding a 26% stake, Allianz is evaluating its strategic priorities while maintaining a commitment to the Indian market. Discussions are at preliminary stages.

In a recent development, Bajaj Finserv revealed that its foreign joint venture partner, Allianz SE, is contemplating an exit from its life and general insurance collaborations. The German insurance giant holds a 26 percent stake in Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance.

Bajaj Finserv, which retains a 74 percent majority stake, emphasized the solid growth of these ventures over the years. Allianz has signaled that strategic focus may lead to a withdrawal but remains supportive of the Indian insurance market.

While discussions are still preliminary, Allianz assured full cooperation for a seamless transition, addressing the concerns of policyholders and stakeholders. Reports suggest valuation differences as a possible factor for the exit consideration.

(With inputs from agencies.)