Allianz forms reinsurance joint venture with Jio Financial Services Limited in India
The new entity will leverage Allianz’s existing operations in India.
Allianz Group (Allianz) and Jio Financial Services Limited (JFSL) has partnered to form a 50:50 domestic reinsurance joint venture in India.
The partnership will combine JFSL’s local market knowledge and digital infrastructure with Allianz’s global underwriting and reinsurance capabilities.
The new entity will leverage Allianz’s existing operations in India, including its Allianz Re and Allianz Commercial businesses.
Allianz Re has provided reinsurance services in India for over 25 years. The joint venture will commence operations following statutory and regulatory approvals.
In addition to the reinsurance agreement, JFSL and Allianz have signed a non-binding agreement to explore future 50:50 joint ventures in both general and life insurance.
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