Jio Financial Services Board approved 50:50 general insurance joint venture with Allianz Europe B.V., executing binding agreement on April 22, 2026.
Joint venture will operate in general and health insurance sectors pending statutory and regulatory approvals from Indian authorities.
Partnership combines Jio's digital distribution reach with Allianz's global insurance expertise to support India's 'Insurance for All by 2047' vision.
Companies are working on separate binding agreement for life insurance business following July 2025 non-binding term sheet announcement.