Overview

• The joint venture will be structured through Allianz Europe B.V. with equal ownership by Allianz Group and Jio Financial Services.
• It will build on Allianz Re and Allianz Commercial portfolios in India alongside Jio Financial’s market insights and digital infrastructure.
• Operations cannot commence until the venture secures required statutory and regulatory clearances in India.
• Allianz and Jio Financial have also signed non-binding agreements to explore equal-stake general and life insurance JVs in the country.
• Jio Financial’s shares slipped about 0.5% following the announcement as investors await further regulatory updates.