The Bajaj Group, a prominent Indian conglomerate, announced the successful completion of acquiring a 23% stake in its insurance subsidiaries, Bajaj General Insurance and Bajaj Life Insurance, from German insurer Allianz SE. The transaction, valued at ₹21,390 crore (approximately $2.38 billion), was finalized on Thursday, January 8, 2026. This acquisition significantly consolidates Bajaj Group's position, increasing its total ownership in both insurance companies from 74% to 97%. Bajaj Finserv, the group's financial services arm, now holds a controlling 75.01% stake, granting it full management control over the insurance businesses. The deal formally brings an end to a 24-year-long successful joint venture between Bajaj Finserv and Allianz SE. Multiple credible sources, including The Economic Times, Mint, BW Businessworld, and Bajaj Finserv's own exchange filings, corroborate these details, affirming the accuracy of the original Moneycontrol article's claims. This landmark acquisition is touted as the largest ever in the Indian insurance sector, underscoring its significant impact on the country's financial landscape. While 23% of the stake has been acquired, Allianz SE still retains a 3% stake, which is expected to be bought back by the insurance firms over the next few months through a proposed share buyback, subject to regulatory approvals. The corporate headquarters of Bajaj General Insurance and Bajaj Life Insurance will continue to be based in Pune, Maharashtra.