Bajaj Finserv rebrands insurance units following Allianz SE acquisition

Earlier this year, Bajaj Finserv signed share purchase agreements (SPAs) with Allianz SE to acquire a 26 per cent stake in the two insurance joint ventures for ₹24,180 crore.

Bajaj Finserv on Tuesday announced a rebranding of its insurance operations, which will now be called Bajaj General Insurance and Bajaj Life Insurance. The businesses were previously known as Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance, respectively. The name change follows Bajaj Group’s move to take a 100 per cent stake in both joint ventures (JVs).

Earlier this year, the group signed share purchase agreements (SPAs) with Allianz SE to acquire its 26 per cent stake in the two JVs for ₹24,180 crore. The acquisition, expected to be completed in November, will raise Bajaj’s stake from 74 per cent to full ownership.

 

 

New brand identity: ‘100% Bajaj. Made in India’ 

“The rebranding unveils a new identity and campaign – ‘100 per cent Bajaj. Made in India. Made for India. Made by India’ – signifying the Bajaj Group’s renewed commitment to shaping the future of insurance in India,” the company said in a statement.

 

It added that all necessary regulatory approvals have been obtained, including those from the Registrar of Companies, the Competition Commission of India (CCI), and the Insurance Regulatory and Development Authority of India (IRDAI).

 

Sanjiv Bajaj on vision behind the rebranding 

Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, said the rebranding represents more than a name change.

 

“It brings to life Bajaj Finserv’s vision of giving wings to every Indian to fulfil their aspirations while remaining financially protected. At the core lies our belief in building responsible businesses that are ‘Made in India. Made for India. Made by India’,” he said.

 

Allianz to exit promoter role 

According to a PTI report, the joint venture agreements with Allianz SE will end once the initial tranche of the acquisition — involving at least a 6.1 per cent stake — is completed. Following this, Allianz will be reclassified from promoter to investor.