Jio Financial Services (JFSL) and Allianz Europe B.V., (Allianz) have incorporated a joint venture company named ‘Jio Allianz General Insurance’ (JAGIL) on May 12, 2026, to carry on the business of general insurance (which includes health insurance) in India, subject to regulatory approvals. The company will invest an amount of Rs 4.95 crore towards initial subscription of 49,50,000 equity shares of face value Rs 10 each for 50% stake.
Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).
