Jio Financial Services forms 'Jio Allianz General Insurance Limited'

Jio Financial Services Ltd has incorporated a joint venture company named "Jio Allianz General Insurance Limited" (JAGIL) on May 12, 2026, in partnership with Allianz Europe B.V. The JV will conduct general insurance business, including health insurance, in India, subject to regulatory approvals. Jio Financial Services will invest ₹4.95 crores for a 50% stake in JAGIL, subscribing to 49,50,000 equity shares at ₹10 each. The incorporation follows the receipt of a no-objection certificate from the Insurance Regulatory and Development Authority of India.