India, March 18 -- Bajaj Finserv Limited has announced its proposal to acquire a 19.95% stake in both Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz Life Insurance Company Limited (BALIC) from Allianz SE. The acquisition, approved by the Board on March 17, 2025, is expected to be completed by or before July 16, 2026.
The gross written premium for BAGIC for the financial year 2023-24 stood at INR 20,630 crore. Allianz SE, which is not a related party, will sell its shares as part of the transaction, which will not be categorized as a related party deal.
Bajaj Finserv Limited currently holds a 74% stake in BAGIC and, as part of the acquisition, plans to purchase an additional 1.01% of the paid-up equity capital fr...