Jio Financial Services Ltd

Code BSE: 543940 NSE:

Jio Financial Services Limited and Allianz to form 50:50 reinsurance joint venture To consider joint general and life insurance opportunities in India a) The reinsurance joint venture (JV) brings together Jio Financial Services Limited’s local market knowledge and reach, with Allianz’s global underwriting and reinsurance skills and experience b) By providing reinsurance capability and capacity, the JV seeks to expand access to insurance, supporting the Indian national vision of “Insurance for All by 2047” The reinsurance JV between JFSL and Allianz will help insurers manage risks more effectively by providing access to strong underwriting capabilities and competitive capacity - ultimately strengthening the resilience of the entire insurance ecosystem. The JV will launch operations post receipt of statutory and regulatory approvals. Oliver Bäte, Chief Executive Officer, Allianz SE, says: “We are proud to partner with Jio Financial Services to support the democratization of access to world-class financial services for the people of India, with the opportunity to serve a growing number of consumers who are seeking the right protection for themselves, their families, and their businesses. Allianz and Jio Financial Services are two trusted brands distinguished for customer excellence, and we are very much looking forward to actively contributing to and participating in this exciting journey of change.“