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Bajaj Life Insurance

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From Wikipedia, the free encyclopedia
Bajaj Life Insurance Limited
TypePrivate
Bajaj Life Insurance Company Ltd.
IndustryFinancial services
Founded12 March 2001; 25 years ago (2001-03-12)
HeadquartersPune, India
Area served
India, Dubai
Key peopleTarun Chugh (MD & CEO)
ProductsTerm life insurance Plans
ULIP Plans
Savings Plans
Retirement Plans
Child Plans
NRI Plans
Number of employees
28,000
ParentBajaj Group
Websitewww.bajajlifeinsurance.com
Footnotes
[1][2][3]

Bajaj Life Insurance (formerly known as Bajaj Allianz Life Insurance Company Limited) is an Indian life insurance company headquartered at Pune, Maharashtra.[4][5]

The company is 100% owned by the Bajaj Group, an Indian multinational conglomerate founded by Jamnalal Bajaj in Mumbai in 1926.[6][7]

History

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Bajaj Life Insurance was incorporated on 12 March 2001 under the Companies Act, 1956, after the liberalization of the insurance sector in India. It obtained a license from the Insurance Regulatory and Development Authority for carrying on the business of life insurance on 3 August 2001. It is a joint venture between Bajaj Finserv Ltd. owned by the Bajaj Group and Allianz SE, a German financial services company.

Till December 2023, the company's assets under management crossed Rs. 1 Lac crore.[8]

In March 2025, Bajaj Finserv announced plans to acquire Allianz SE's 26% stake in the insurance joint ventures for approximately ₹24,180 crore, marking a significant shift in ownership.[9]

In January 2026, Bajaj Finserv and its promoter group completed the acquisition of a 23% stake from Allianz, increasing their combined ownership to about 97% and effectively ending the 24-year joint venture.[10][11]

Operations

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The company managed its operations to all across India. Till 2023 it expanded its operation to Dubai and the GCC region.[12]

References

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  1. ↑ "A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT AT BAJAJ ALLIANZ LIFE INSURANCE COMPANY" (PDF). Ijesat.com.
  2. ↑ "Analysis of Life Insurance Industry in India" (PDF). Canarahsbclife.com. Canara HSBC Life Insurance.
  3. ↑ "A STUDY ON WORKING CAPITAL MANAGEMENT PRACTICES OF BAJAJ ALLIANZ LIFE INSURANCE CO., LTD, VIJAYAWADA" (PDF). Ijprems.com.
  4. ↑ "From Bajaj Allianz Life to Bajaj Life Insurance – Evolving for India's Financial Future". Hindustan Times. 9 October 2025.
  5. ↑ "Bajaj Group get CCI's nod to acquire Allianz's 26 pc stake in insurance JVs for Rs 24,180 cr". The Economic Times. 21 May 2025.
  6. ↑ "Bajaj Finserv rebrands insurance arms after Allianz exit". The Times of India. 8 October 2025.
  7. ↑ Kochuveedan, Benn (8 January 2026). "Bajaj group pays Allianz Rs 21,390 crore for buying back 23% stakes in insurance JVs". The New Indian Express.
  8. ↑ "Bajaj Allianz Life's assets under management crosses Rs 1 lakh crore". The Times of India. 14 December 2023.
  9. ↑ Kumar, N. Ravi (18 March 2025). "Bajaj to acquire Allianz's 26% stake in life, general insurance JVs for ₹24,000 cr". The Hindu.
  10. ↑ "Bajaj Group completes 23% stake acquisition in its insurance units from Allianz". The Economic Times. 8 January 2026.
  11. ↑ "Bajaj deal with Allianz values insurance arms at Rs 93000 crore". The Times of India. 8 January 2026.
  12. ↑ "Bajaj Allianz Life establishes presence in Dubai". Khaleej Times.
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