Bajaj Finserv Group renames insurance business to Bajaj General Insurance, Bajaj Life Insurance — Details here

Mumbai, October 7 (PTI) Diversified Financial Services Group Bajaj Finserv Limited, on Tuesday, announced that insurance businesses will be re -branded as Bajaj General Insurance and Bajaj Life Insurance.

Previously, Bajaj Allianz General Insurance and Bajaj Allianz were known as life insurance.

“Re -branding goes beyond just one name change. This is the vision of giving wings to every Indian, financial protection of Bajaj Financial.

Bajaj Finserv Chairman and General Manager Sanjiv Bajaj, “Basically, ‘Made in India. Made for India. Made by India’ we believe in establishing responsible businesses,” he said.

The statement said that Bajaj Group received all the necessary regulatory approvals, including approvals from the registry officers of the companies, the Indian Competition Commission and the Indian Insurance Regulation and Development Authority.

“In accordance with the SPA conditions, the purchase of stocks in the coming months and both insurance organizations are expected to belong to the Bajaj Group,” the statement said.

The joint venture agreements on insurance activities between the Bajaj group and Allianz SE will be terminated upon completion of the first tranche of at least 6.1 percent, which is the first purchase tranche and re -classified allianz’s supportive position to investor position.

Bajaj Finserv Ltd (BFS) is one of the leading financial service businesses in India with its consolidated income of 2016, 2016, 2016, 2016, 2016, 2016, within the scope of Basic Investment Companies (Reserve Bank) guidelines. ₹1,33,822 CRORE (USD $ 15,66 billion) for the financial year of 2024-25.