India, April 22 -- Jio Financial Services Limited (JFSL) and Allianz Group have signed a binding agreement to establish a 50:50 joint venture in India, focusing on general and health insurance segments. The partnership, first announced in July 2025, will be executed through Allianz's wholly owned arm, Allianz Europe B.V.
The proposed JV aims to combine JFSL's strong digital ecosystem and local market expertise with Allianz's global insurance capabilities to offer accessible and customer-centric protection solutions across India. Operations will begin after receiving necessary regulatory approvals.
Both companies are also working towards a separate agreement to enter the life insurance business in India.
The collaboration comes at a time ...