Bajaj Finserv Limited has informed the Exchange about completion of acquisition of entire 26% equity stake held by Allianz SE in Insurance subsidiaries.

Bajaj Finserv has completed the acquisition of the entire equity stake held by German insurance major Allianz SE in its two insurance subsidiaries — Bajaj General Insurance Limited and Bajaj Life Insurance Limited. Allianz SE's exit was executed through a buyback offer by the two subsidiaries, in which Allianz tendered its remaining 3% stake in each. As a result, Bajaj Finserv's direct equity holding in each subsidiary has risen from 75.01% to 77.33%, and together with promoter group companies, it now owns 100% of both insurance businesses. This marks the end of the long-standing 'Bajaj Allianz' joint venture brand and gives Bajaj Finserv full strategic and financial control over its insurance operations.