New Delhi: Jio Financial Services Ltd (JFSL) and Allianz Group, through its wholly-owned subsidiary Allianz Europe BV, on Thursday announced that their reinsurance joint venture (JV) has commenced operations.
Allianz Jio Reinsurance Ltd is authorized to underwrite reinsurance in India with immediate effect following final regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) on
March 12, 2026.
Headquartered in Mumbai, Allianz Jio Re aims to become a strategic long-term partner for the Indian market with a mission to fortify the resilience of the country’s insurance ecosystem, the company said in a statement.
At a time when structural tailwinds are powering the sustainable growth of the sector — in line with the national mission of ‘Insurance for All’ by 2047 — the combination of JFSL’s local reach and digital infrastructure with Allianz’s robust underwriting and global reinsurance scale will empower insurers with the capacity and expertise needed to manage risk effectively, the ststement said.