Allianz SE (ALIZY) on Thursday announced the completion of the sale of a 23% stake in its joint ventures, Bajaj General Insurance Company and Bajaj Life Insurance Company, to the Bajaj Promoter Group for approximately €2.1 billion. The company expects to sell the remaining 3% stake by the second quarter of 2026.
Allianz had announced in March 2025 its plan to divest stakes in the joint ventures in tranches.
The transaction is expected to generate a non-operating IFRS gain of approximately €1.1 billion in Allianz's first-quarter 2026 results and is projected to boost the Group Solvency II ratio by around five percentage points.
Allianz plans to redeploy the proceeds into strategic growth and productivity initiatives, including investments in its new joint ventures in India and reinvestment of fixed-income instruments into higher-yielding assets.
The company said it continues to view India as an important growth market. As announced in July 2025, Allianz has entered agreements with Jio Financial Services to establish a 50:50 domestic reinsurance joint venture and explore equally owned general and life insurance ventures in India.
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