Jio Financial Services and Allianz Europe B.V. Incorporate Joint Venture Company 'Allianz Jio Reinsurance Limited'

Jio Financial Services Ltd and Allianz Europe B.V. have incorporated a joint venture company named 'Allianz Jio Reinsurance Limited' on September 8, 2025. The new company, AJRL, will carry on the business of reinsurance in India, subject to regulatory approvals. Jio Financial Services will invest Rs. 2.50 lakhs for a 50% stake in the company. The transaction does not fall under related party transactions and none of the Company’s promoter/ promoter group/ group companies have any interest in the above transaction. AJRL has been incorporated pursuant to receipt of no objection certificate from Insurance Regulatory and Development Authority of India.