India, Oct. 1 -- Jio Financial Services (JFS) and German insurance major Allianz have cumulatively infused Rs.640.1 Cr ($66.5 Mn) into their general insurance joint venture, Jio Allianz General Insurance, as the companies move to operationalise the business.

According to a regulatory filing by JFS, the companies each invested Rs.320.05 Cr in the JV via a rights issue, subscribing 32 Lakh shares apiece.

Jio Financial and Allianz continue to hold the JV equally, with their ownership remaining at 50% each. The funds raised through the rights issue will be used by Jio Allianz General Insurance to fund its business operations.

Jio Financial said its cumulative investment in Jio Allianz General Insurance has now reached Rs.375 Cr.

Jio Allia...