Joining the new branding exercises in the three-year-old liberalised private sector insurance industry, Pune-based Allianz Bajaj Life Insurance has changed its name to Bajaj Allianz Life Insurance.
A joint venture between Germany’s largest company and Bajaj Auto Group, Allianz Bajaj will now carry the same name of its general insurance counterpart, Bajaj Allianz General Insurance.
The company is officially announcing the new name on Tuesday. Though Bajaj Auto has 74 per cent in both the companies, the names were different as it was believed that Mr Rahul Bajaj, chairman, Bajaj Auto, had insisted on it. The life insurance joint venture in recent times has embarked on a series of restructuring measures to beef of its operations and had appointed Mr Sam Ghosh as the new CEO of the company. Mr Ghosh is also the country manager of Allianz’s India operation.
Recently, other life insurance companies, Kotak Insurance and Tata AIG Life insurance, had undertaken branding exercises.
Kotak Mahindra Insurance, a joint venture between Old Mutual and Kotak Bank which was earlier known as OM Kotak Mahindra Life Insurance and changed its name to Kotak Mahindra OM and preferred to be known as Kotak Mahindra Life Insurance.