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Bajaj Finserv and Allianz have decided to part after 24 years of being in a joint venture in insurance. SANJIV BAJAJ, chairman and managing director, Bajaj Finserv, talks to Manojit Saha and Subrata Panda about the Munich-based insurer's decision to exit the joint venture and the future of the two insurance firms (general and life) in the group. Edited excerpts:

- SANJIV BAJAJ

What was the trigger for Allianz's exit?

For both promoters the India opportunity and the India story were common. What we understood is that for them (Allianz) a presence in this country was important. In their strategy on how to approach India, they want to be able to control the venture they are in. That is why we amicably signed an agreement to part ways and I am sure at some point they will announce their India plans.