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Allianz to explore new avenues in India after exit from Bajaj JVs

Bajaj Group will acquire the 26 per cent stake in BALIC for Rs 10,400 crore and in BAGIC for Rs 13,780 crore from Allianz

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv
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Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv

Subrata Panda Mumbai

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Munich-based Allianz will explore new opportunities in the Indian insurance market not only as an investor but also as an operator, the company told Business Standard on Tuesday.
 
“India will continue to be one of Allianz’s main growth markets, and Allianz will explore new opportunities to further grow its participation in the Indian insurance market in the future, not only as an investor but also as an operator,” the company said.
 
This comes after the Germany-based financial services company signed a share-purchase agreement with Bajaj Finserv to sell its 26 per cent stake each in the insurance joint ventures it