SECTOR
Jio Financial Services, Allianz Group join hands to serve Indian insurance market
Jul-19-2025

Jio Financial Services (JFSL) and Allianz Group (Allianz) through its wholly-owned subsidiary -- Allianz Europe B.V., have entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. The reinsurance partnership will bring together company’s deep local expertise and robust digital footprint with Allianz’s strong underwriting and global reinsurance capabilities. The JV will leverage Allianz’s existing Allianz Re and Allianz Commercial portfolios and activities in India. It will also benefit from Allianz’s global setup, including its pricing, risk selection and portfolio management expertise. Allianz Re has been reinsuring risk in India for over 25 years. 

The reinsurance JV between JFSL and Allianz will help insurers manage risks more effectively by providing access to strong underwriting capabilities and competitive capacity – ultimately strengthening the resilience of the entire insurance ecosystem. The JV will launch operations post receipt of statutory and regulatory approvals.

Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).

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