Earlier, they were known as Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance.
The rebranding follows the execution of the share purchase agreement (SPA) signed by the Bajaj Group earlier this year to acquire Allianz SE’s 26% interest in its general and life insurance joint ventures, increasing Bajaj Group’s ownership to 100% from 74%.
“The rebranding unveils a new identity and campaign – ‘100% Bajaj. Made in India. Made for India. Made by India’ – signifying the Bajaj Group’s renewed commitment to shaping the future of insurance in India,” the company said in a statement.
He further said that the new logo reflects the enduring values that the Bajaj Group stands for – trust, fairness to customers, transparency and deep dedication to supporting the country’s growth.
“The rebranding goes beyond just a name change. It brings to life Bajaj Finserv’s vision of giving wings to every Indian to fulfill their aspirations while remaining financially protected.
“At its core, lies our belief in building responsible businesses that are Made in India. Made for India. Made by India,” said Sanjiv Bajaj, Chairman and Managing Director, Bajaj Finserv.
The Bajaj Group has received all required regulatory approvals, including approvals from the Registrar of Companies, the Competition Commission of India and the Insurance Regulatory and Development Authority of India, the statement said.
“The acquisition of shares pursuant to the terms of the SPA is expected to be completed in the coming months, making both insurance entities fully owned by the Bajaj Group,” it said.
The joint venture agreements between Bajaj Group and Allianz SE with respect to insurance businesses will be discontinued upon completion of the first initial tranche of acquisition of at least 6.1% and reclassification of Allianz from being a promoter to the investor.
Bajaj Finserv Ltd (BFS), an Unregistered Core Investment Company (Unregistered CIC) in the Core Investment Companies (Reserve Bank) Guidelines, 2016 is one of India’s leading promoters of financial services companies with consolidated revenues of too ₹1,33,822 crore ($15.66 billion) for FY2024-25.
