New Delhi, April 22 -- Jio Financial Services and the Allianz Group, through its wholly owned subsidiary Allianz Europe BV, have entered into a 50:50 joint venture (JV) to set up a non-life insurance company, months after the two entities collaborated on a reinsurance company. The partnership was first announced in July 2025.

The JV will benefit from Jio Financial's extensive digital reach and understanding of the Indian market, and Allianz's high-quality insurance products and services, the companies said in a joint statement. It will offer innovative and accessible protection solutions across general and health insurance, tailored to the specific needs of the people and businesses of India, they added.

The partnership is subject to ne...