Jio Financial Services, Allianz join hands to launch reinsurance JV in India
Jio Financial Services, Allianz join hands to launch reinsurance JV in India
Jio Financial Services and Allianz Group have launched their reinsurance joint venture, Allianz Jio Reinsurance Ltd, which has now started operations in India.
The company received final approval from the Insurance Regulatory and Development Authority of India on March 12, allowing it to begin underwriting reinsurance business with immediate effect.
Mumbai-based Allianz Jio Re aims to become a long-term partner in India's insurance sector.
The venture will combine Jio Financial Services' local reach and digital capabilities with Allianz's global expertise in underwriting and reinsurance.
Stock on radar -