Mumbai, March 24 -- Bajaj Finserv Ltd. expects significant growth in its financial services business over the next 15-20 years, driven by greater penetration of financial products and rising per capita income.

The company, which took 13 years to see its assets grow to Rs.1 trillion, is already adding Rs.1 trillion annually, according to Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, the financial arm of the Bajaj Group.

Speaking to Mint, the billionaire businessman said the company is exploring new market opportunities after Allianz SE's exit from its insurance subsidiaries. He also spoke at length about the company's plans for a seamless leadership transition as Rajeev Jain steps into the role of vice chairman at Bajaj ...