Shardul Amarchand Mangaldas the Bajaj group in securing approval from the Competition Commission of India for the group’s proposed acquisition of Allianz SE’s entire shareholding in Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Financial Distributors Limited

May 23, 2025

Shardul Amarchand Mangaldas & Co. successfully represented Bajaj Finserv Limited, Bajaj Holdings & Investment Limited and Jamnalal Sons Private Limited (collectively, a part of the Bajaj Group) in securing unconditional approval from the Competition Commission of India (CCI) for their proposed acquisition of 26% stake of each of Bajaj Allianz Life Insurance Company Limited (BALIC) and Bajaj Allianz General Insurance Company Limited (BAGIC) from Allianz SE (Allianz). The transaction also involves the proposed acquisition by Bajaj Finserv Limited of 50% stake in Bajaj Allianz Financial Distributors Limited (BAFDL) from Allianz. This is set to be one of the largest and most significant transactions in the Indian insurance sector in recent times and was approved by the CCI in record time.

The Bajaj group consists of various companies that offer an extensive range of products and services across India.

Our Competition Law Team comprised of Partners, Harman Singh Sandhu and Aman Singh Sethi, Senior Associate, Ritesh Puri and Associates, Natalia Bilimoria and Pranika Goel.

Our Transaction Team is led by Partners, Shailaja Lall and Akshay Sachthey with support from Principal Associate, Uday Opal (on insurance regulatory aspects), Senior Associate, Poorvisha Jindal and Associate, Nidhi Lakhotia.