Allianz exits Bajaj Finserv joint venture, bets big on Jio Financial Services in India
Allianz has completed its exit from a long-standing joint venture with Bajaj Finserv in India. The move follows a staged divestment that began in mid-2025, with the final sale of shares expected by mid-2026. The financial services giant has simultaneously announced a new partnership with Jio Financial Services to expand its presence in the country.
The process started in July 2025 when Allianz agreed to sell a 23% stake in its Bajaj joint venture to Bajaj Finserv for around €2.1 billion. By early 2026, the company had fully exited the partnership, recording a €1.1 billion one-off gain in the first quarter. An additional 3% stake will be sold by the second quarter of the same year.
The divestment has already improved Allianz’s financial position, boosting its Solvency II ratio by 5 percentage points. The freed-up capital will now be reinvested into strategic growth and productivity initiatives.
Alongside the exit, Allianz has shifted focus to a new collaboration. On July 18, 2025, the company announced a 50:50 joint venture with Jio Financial Services in India, covering domestic reinsurance and general/life insurance. The partnership marks a fresh direction after two decades of working with Bajaj, which began in 2001.
Beyond India, Allianz is also advancing its digital strategy. A global partnership with AI firm Anthropic was established to accelerate digital transformation. This comes as artificial intelligence climbed to the second spot on Allianz’s Risk Barometer 2026, reflecting its growing significance in corporate risk management.
Allianz’s share price has responded cautiously to these developments, trading at €380.00. The company’s exit from Bajaj and reinvestment plans aim to strengthen its financial flexibility and growth prospects. Meanwhile, the new ventures with Jio Financial Services and Anthropic signal a push toward innovation and market expansion.
