Bajaj Allianz Life Insurance

Bajaj Finserv Limited holds a 75.01% stake in Bajaj Allianz Life Insurance following Allianz SE's complete exit in March 2026. Bajaj Finserv is the financial services holding company of the Bajaj Group, one of India's oldest industrial conglomerates, and also controls Bajaj Finance, Bajaj Allianz General Insurance, and Bajaj Finserv Asset Management. The insurer operates as a distinct regulated entity with its own board, compliance framework, and policyholder obligations.

The general-account portfolio is overwhelmingly allocated to fixed-income instruments — central government securities, state development loans, and AAA-rated corporate bonds — reflecting the insurer's need to match long-duration liabilities from traditional and participating life policies. Equity exposure remains a smaller sleeve, largely in Nifty 50 and Sensex constituents, and is constrained to roughly 15% by regulatory mandate. Infrastructure exposure comes primarily through bonds and listed InvIT units, not direct project equity.

The firm avoids venture-stage companies, private credit, direct real estate equity, and offshore securities not approved under Indian insurance regulations. Its liability-driven mandate precludes participation in illiquid, non-marketable assets outside the small policyholder-linked unit portfolio. No regulatory waiver or internal carve-out permits alternative-asset exposure of the kind seen at Singaporean or North American insurers with dedicated alternatives teams.