Bajaj Finserv has no plans to list its life insurance business, Bajaj Allianz Life Insurance, since the company is adequately capitalised, managing director Sanjiv Bajaj said on the sidelines of the India Economic Summit 2016 in New Delhi.
He added that the two promoters are happy to keep their money in the insurance company and see it grow.
You list either because you need additional capital or if promoters want those funds. For us, neither of those reasons are true. The company hasn't needed capital since the last five to six years and we're all willing to keep our money in the company and see it growth with the company.Sanjiv Bajaj, Chairman, Bajaj Allianze Life Insurance
The country's largest private insurer ICICI Life Insurance Prudential Company Ltd. listed on September 29 while HDFC Life is looking to list its shares in 2017 after merging with Max Life Insurance, a process that is underway.
On whether Bajaj Finserv will buy out German partner Allianz SE's stake in its two insurance units, Sanjiv Bajaj said talks between the two companies remain inconclusive.
Also Read: Good Time For Government To Exit From Hindustan Zinc And BALCO, Says Vedanta's Agarwal
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
