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Jio and Allianz Set Up Reinsurance JV with 50:50 Stakes

Fintech and Financial Services

Business Honor - Jio, Allianz Form 50:50 Reinsurance JV

Business Honor
12 September, 2025

Jio Financial and Allianz form 50:50 joint ventures to strengthen reinsurance offerings and support insurance expansion.

Jio Financial Services Ltd. (JFSL), the financial arm of Reliance Industries, has partnered with global insurance giant Allianz to form a new reinsurance company, Allianz Jio Reinsurance Limited (AJRL). The joint venture (JV) was officially incorporated on September 8, 2025, and will focus on reinsurance operations within India, pending regulatory approval.

Both companies hold an equal 50% stake in AJRL. JFSL has committed ₹2.5 lakh for the initial subscription, acquiring 25,000 equity shares at ₹10 each. The partnership will bring together JFSL’s strong digital and local presence with Allianz’s global reinsurance experience, built over 25 years in the Indian market through its reinsurance unit, Allianz Re. In an exchange filing, Jio Financial confirmed that the deal is not a related party transaction and none of its promoters or associated companies has any financial interest in the JV.

The venture supports India’s broader goal of achieving "Insurance for All by 2047" by offering customized and innovative reinsurance solutions. Allianz’s current reinsurance and commercial operations in India will now be integrated into the new JV. In addition to the reinsurance JV, both firms have signed a non-binding agreement to explore further collaborations in life and general insurance.

Meanwhile, Jio Financial reported a 47% increase in revenue for Q1 FY26, reaching ₹612 crore. Its subsidiaries have shown strong growth—JioBlackRock’s AUM crossed ₹17,800 crore, and Jio Credit Limited’s AUM rose to ₹11,665 crore. Jio Payments Bank also grew its customer base to 2.58 million with ₹358 crore in deposits. JFSL shares were trading 1.08% lower at ₹307.80 on the BSE as of the latest update.