Allianz forms 50:50 insurance joint venture with Jio Financial

The venture will offer general and health protection products after regulatory clearance.

Allianz Group, through its wholly-owned subsidiary Allianz Europe B.V., and Jio Financial Services Limited have partnered to form a 50:50 primary insurance joint venture (JV) – covering general insurance and health insurance.

The agreement formalises a partnership first announced in July 2025 and combines JFSL’s digital distribution capabilities with Allianz’s insurance expertise.

The joint venture will begin operations after receiving regulatory approvals. 

The companies said the venture aims to offer protection products to individuals and businesses in India, targeting a market driven by economic growth, a young population, and a rising middle class.

JFSL and Allianz are also working towards a separate agreement to enter the life insurance segment in India.