Jio Financial Services has officially entered the Indian reinsurance market through a joint venture with Allianz Europe B.V. Following their earlier announcement on July 18, 2025, the two companies have now incorporated a new company, Allianz Jio Reinsurance Limited (AJRL), on September 8, 2025. This venture marks a strategic move to expand reinsurance services within India, subject to regulatory approvals.
Jio Financial Services will hold a 50% stake in AJRL, investing Rs. 2.50 lakhs for 25,000 equity shares of Rs. 10/- each. Importantly, this transaction is not classified as a related-party transaction, and none of Jio’s promoters, promoter group, or group companies have any interest in this joint venture.
The incorporation of AJRL comes after receiving a no objection certificate from the Insurance Regulatory and Development Authority of India (IRDAI). The company’s Certificate of Incorporation was formally issued by the Ministry of Corporate Affairs via email at 1:31 p.m. on September 8, 2025.
This collaboration combines Jio Financial Services’ deep understanding of the Indian market with Allianz’s global reinsurance expertise, positioning AJRL to become a key player in India’s reinsurance sector.
