Bajaj Finserv’s stock dipped over 1% to ₹1,845 in morning trade on March 18, even as it continued its upward trend for the third straight session. This came after the company announced plans to acquire Allianz SE’s 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance for ₹24,180 crore ($2.83 billion), making it the sole owner of both businesses.
This deal marks the end of a nearly 25-year collaboration between Bajaj and the German insurer, confirming a report by Moneycontrol from January.
Following this acquisition, Bajaj Finserv’s ownership in both insurance arms will increase from 74% to 100%. The company will invest ₹13,780 crore in its general insurance division and ₹10,400 crore in the life insurance segment. However, the transaction still requires approvals from regulatory bodies like the Competition Commission of India and the Insurance Regulatory and Development Authority of India.
Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, highlighted that the long-standing partnership with Allianz helped maintain strong solvency margins and cross ₹40,000 crore in premium collections. He believes that full ownership will drive significant value for stakeholders in the future.
Meanwhile, Allianz reaffirmed its commitment to India, stating that it will reinvest the sale proceeds into new opportunities aligned with the country’s “Insurance for All by 2047” vision. The company plans to explore its next investment moves once the funds are available.
Financially, Bajaj Finserv posted a 3% rise in consolidated net profit for Q3FY25, reaching ₹2,231 crore compared to ₹2,158 crore a year earlier. Revenue from operations grew by 10% to ₹32,042 crore, up from ₹29,038 crore in Q3FY24.
The company’s Assets Under Management (AUM) stood at ₹3,98,043 crore as of December 31, 2024, reflecting a 28% increase from ₹3,10,968 crore a year earlier.
By 9:30 AM, Bajaj Finserv’s shares were trading at ₹1,860 on the NSE, down 0.6% from the previous close. Despite the slight dip, the stock has gained nearly 20% so far this year.
