Bajaj Finserv Ltd is a financial services company which is engaged in life insurance, general insurance, consumer finance and other financial products. Apart from financial services, the company is also active in wind energy generation.
Bajaj Finserv Ltd was incorporated on April 30, 2007. The financial services and wind energy businesses were transferred to Bajaj FinServ Ltd as part of the demerger of Bajaj Auto Ltd. The demerger is effective from the appointed date on March 31, 2007.
The portfolio of the company includes 74% in the two insurance companies namely Bajaj Allianz Life Insurance company Ltd and Bajaj General Insurance company Ltd, 50% holding in Bajaj Allianz Financial Distributors Ltd, 40.53% in Bajaj Auto Finance Ltd and 100% holding in Bajaj Financial Solutions Ltd.
The company is engaged in life and general insurance through their joint ventures with Allianz SE namely balaji Allianz Life Insurance Company Ltd and Bajaj Allianz General Insurance Ltd. Bajaj Allianz Financial Distributors Ltd is a 50:50 joint venture company between the company and Allianz SE which is engaged in the business of financial products. The company operates 138 wind mills in Maharashtra with an installed capacity of 65.2 MW. Bajaj Auto Finance Ltd offers various consumer finance products to the customers such as auto loans, personal loans, loans for consumer durables and computers and SME finance.