Have No Plans for a Foreign Partner

SANJIV BAJAJ, chairman & managing director, Bajaj Finserv, tells Manojit Saha and Subrata Panda there is no immediate change in strategy after the Allianz exit because its strategy has been defined in terms of long-range plans. He says there is no dearth of capital in the company and, though listing is a "good idea" (for the two insurance firms), he does not see it happening in a year or two. Edited excerpts:

- SANJIV BAJAJ, chairman & managing director, Bajaj Finserv,

Would you like to bring in a partner for the insurance firms? We have no plans for a foreign partner. We have strong capabilities here and work with global partners on technology, risk, and reinsurance. Both businesses are profitable. They did not require external capital for over 10 years.

What will be the change in strategy for the two insurance companies after Allianz's exit? There's no immediate change in strategy. This is because ours has been defined in terms of our long-range plans. But a few things will be tweaked. For example, now, if we want to introduce products for NRIs, we will be free to do that. If we want dollar-based products, we can have them. If we want to set up an office in Gift City (Gujarat), that is possible. Earlier, it required Allianz's approval. But these will be smaller opportunities at this point in time. They could develop into something large in the coming years. The broad strategy remains the same, which is what we have been working on year after year.