Bajaj Finserv rebrands insurance businesses following Allianz exit

Bajaj Finserv Ltd. has announced the rebranding of its insurance subsidiaries as Bajaj General Insurance and Bajaj Life Insurance, effective immediately. The move follows the Bajaj Group’s decision to acquire Allianz SE’s 26% stake in their joint ventures, making the insurance businesses wholly owned subsidiaries of the Bajaj Group.

The rebranding is part of the transition process under the Share Purchase Agreement (SPA) signed earlier this year. Once completed, Bajaj’s ownership in both the general and life insurance entities will rise from 74% to 100%.

The company also unveiled a new brand identity and campaign titled “100% Bajaj. Made in India. Made for India. Made by India.” According to the company, the new identity reflects its emphasis on trust, transparency, and customer-centric operations.

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said, “The rebranding goes beyond a mere change of name. 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’. This is a defining moment in the strategic transformation of both our insurance businesses. The journey towards being ‘100% Bajaj’ reaffirms our long-standing commitment to supporting the nation’s growth and making financial protection accessible and inclusive for all. We thank the regulators and all authorities for their support.”

The Bajaj Group has received approvals from the Registrar of Companies, the Competition Commission of India, and the Insurance Regulatory and Development Authority of India (IRDAI) for the acquisition. The process of transferring shares as per the SPA terms is expected to be completed in the coming months.

Following the completion of the first tranche of the acquisition, the joint venture agreements with Allianz SE will be terminated, and Allianz will be reclassified from a promoter to an investor.