Bajaj Group has completed the acquisition of a 23% stake in its insurance joint ventures, Bajaj General Insurance and Bajaj Life Insurance, from Allianz SE for a total of ₹21,390 crore. This transaction increases Bajaj Group's ownership in both companies to 97% from 74%, granting Bajaj Finserv full management control. The deal concludes a 24-year partnership, with plans for Allianz's remaining 3% stake to be transferred via a share buyback. Bajaj Finserv stated the acquisition will enhance strategic flexibility for growth and product development in India's expanding insurance market.