Jio Financial, Allianz of Germany Forge Alliance to Set up Reinsu
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Jio financial services Ltd and Allianz of Germany have formed a joint venture company called Allianz Jio Reinsurance Ltd (AJRL) in order to conduct business of reinsurance in India.
AJRL will invest 2.50 lakh towards initial subscription of 25,000 equity shares of face value Rs.10 each at 50 percent stake in JFSL, company said in a regulatory approval.
It has been incorporated pursuant to receipt of no objection certificate from Insurance Regulatory and Development Authority of India, it added.
According to reports, the Certificate of Incorporation was received from the Ministry of Corporate Affairs, by email, on September 8, 2025, it said.
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Both the companies on July 18, had announced a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India.The announcement comes months after Allianz parted ways with Bajaj group financial services firm Bajaj Finserv.
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The reinsurance partnership will bring together JFSL's deep local expertise and robust digital footprint with Allianz's strong underwriting and global reinsurance capabilities, the statement had said.
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The joint venture will leverage Allianz's existing Allianz Re and Allianz Commercial portfolios and activities in India. It will also benefit from Allianz's global set up, including its pricing, risk selection and portfolio management expertise, it had said. Allianz Re has been reinsuring risk in India for over 25 years.