India's Bajaj Finserv said on Tuesday that Allianz SE is considering exiting its life and general insurance joint ventures with the Bajaj Group, potentially ending a decades-old partnership.

Allianz SE is in talks to scrap two Indian joint ventures with Bajaj Finserv Ltd., in a dispute over the direction of the partnership, according to people familiar with the matter.

Allianz and Jio Financial Services are looking to establish a general insurance & life insurance company, ET NOW sources say.

Allianz has said that given its strategic priorities, it is considering an exit from the life and general insurance joint ventures, Bajaj Finserv told the exchanges on Tuesday, adding that Allianz has said it remains “committed to the Indian insurance market”.

Allianz SE is considering a withdrawal from its insurance joint ventures with Bajaj Finserv, as per a corporate filing by Bajaj Finserv on Tuesday What Happened: Allianz is actively mulling over an exit from its life and general insurance joint ventures with Bajaj Finserv,

German financial services multi-national company Allianz SE is looking to exit the joint venture with Bajaj Group, ending more than two-decade old partnership, Bajaj Finserv confirmed via an exchange filing on Tuesday,