Bajaj Finserv
Bajaj Finserv Ltd was formed in April 2007 as a result of its demerger from Bajaj Auto Limited by Bombay High Courte order to further the Group’s interests in financial services. Currently (2019) Mr. Rahul Bajaj (Chairman) and Mr. Sanjiv Bajaj (MD & CEO) of the company. It is a holding company for various financial services businesses. Company holds 52.82% stake in Bajaj Finance Limited and 74% stake in Bajaj Allianz. The Company is engaged in the business of promoting financial services, such as finance, insurance and wealth management, through its investments in subsidiaries and joint ventures. These are done through Bajaj Allianz General Insurance Company Ltd for general insurance including health insurance; and Bajaj Allianz Life Insurance Company Ltd for life insurance and retirement plans. Both insurance companies are unlisted joint ventures with Allianz SE, one of the world’s leading composite insurers.
The Company is also engaged in the business of generating power through wind turbines with an installed capacity of 65.2 MW, a renewable source of energy. Its segments include Insurance, Windmill, Retail financing, and Investments and others. The Company is also involved in wind-farm activities.
The Company focuses on six categories: consumer lending, small and medium enterprise (SME) lending, commercial lending, rural lending, fixed deposits and value added services. It serves various customers in the financial services space by providing solutions for asset acquisition through financing, asset protection through general insurance, family protection and income protection in the form of life and health insurance, and retirement and savings solutions.
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