Allianz SE: Allianz to sell its 26% stake in its Indian Non-Life and Life Insurance Joint Ventures to Bajaj Group for a total consideration of EUR ~2.6bn

EQS-Ad-hoc: Allianz SE / Key word(s): Agreement/Investment Allianz SE: Allianz to sell its 26% stake in its Indian Non-Life and Life Insurance Joint Ventures to Bajaj Group for a total consideration of EUR ~2.6bn 17-March-2025 / 17:31 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement. Munich, March 17, 2025

Today, Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd. to sell its 26% stake in its successful non-life and life insurance joint ventures - Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company - to the Bajaj Group for a total consideration of EUR ~2.6bn¹. Allianz may receive the proceeds in several tranches.

The decision to sell is the result of constructive and amicable talks with Bajaj Finserv Ltd. India continues to be one of Allianz’s growth markets, and Allianz will explore new opportunities that strengthen its position in the market and expand its potential to serve not only as an investor but also as an operator.

As the proceeds become available, Allianz will consider options for their deployment that support the company’s strategic ambitions, in particular the reinvestment of sale proceeds into potential new opportunities in India. Allianz will adhere to its capital management policy as updated at the December 2024 Capital Markets Day, which includes a minimum level of distribution of earnings² alongside the flexibility to fund disciplined deployment.

The transaction is subject to obtaining necessary regulatory approvals, which are expected to take a number of months. Upon the transfer of shares and the cessation of Allianz being a promotor of the joint ventures, also the joint venture agreements between Allianz SE and Bajaj Finserv Ltd. will be terminated.

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¹ Based on current FX rates. Anticipated IFRS gain EUR ~1.3bn / Solvency II impact +6-7%-p
² Earnings adjusted for extraordinary and volatile items

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Person making the notification: Michael Sieburg, Compliance Officer, Allianz SE

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