Jio Financial Services, Allianz of Germany forge alliance to set up reinsurance business

Jio Financial Services Limited (JFSL) and Allianz of Germany have incorporated a joint venture company, Allianz Jio Reinsurance Limited (AJRL), to operate in the Indian reinsurance sector. The venture was established following a no objection certificate from the Insurance Regulatory and Development Authority of India (IRDAI), with the Certificate of Incorporation issued by the Ministry of Corporate Affairs on September 8, 2025. AJRL will have an initial investment of Rs. 2,50,000 (US$ 2,835) through 25,000 equity shares of Rs. 10 each (US$ 0.11), with both partners holding equal 50% stakes.
The formation of AJRL follows a binding agreement announced on July 18, 2025, aimed at addressing the high-growth opportunities in India’s insurance market. The collaboration combines JFSL’s local market knowledge and extensive digital presence with Allianz’s global reinsurance expertise and underwriting capabilities. The joint venture will leverage Allianz’s existing Allianz Re and Allianz Commercial portfolios in India and benefit from its global infrastructure, including pricing, risk selection, and portfolio management, marking a renewed focus on the Indian market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.