India, March 5 -- Months after setting up a joint venture (JV) with German insurance major Allianz, Jio Financial Services (JFS) has announced a capital infusion of Rs.147.5 Cr in the JV, Allianz Jio Reinsurance Limited (AJRL).

In an exchange filing today, the fintech company said it has subscribed to and been allotted 14.75 Cr equity shares worth Rs.10 each in AJRL for a cash investment aggregating to Rs.147.5 Cr. The funds will be used to support the business operations of the joint venture.

With this transaction, Jio Financials' total investment in AJRL has reached Rs.150 Cr so far. Back in September, JFS announced an investment of Rs.2.5 Lakh into the JV company at the time of its official incorporation.

The strategic incorporation...