Jio Financial to invest ₹4.95 crore for 50% stake in new Jio Allianz General Insurance JV

Jio Financial Services Limited informed stock exchanges on May 12, 2026, that it has incorporated a joint venture company with Allianz Europe BV, named Jio Allianz General Insurance Limited.According to the exchange filing, the joint venture has been formed to carry on the business of general insurance, including health insurance in India, subject to regulatory approvals. The incorporation follows an earlier disclosure regarding the execution of the joint venture agreement between the two entities.

At the centre of the transaction, Jio Financial Services Limited will invest ₹4.95 crore towards the initial subscription of 49,50,000 equity shares of face value ₹10 each. This will translate into a 50% stake in the joint venture.
The filing further stated that the incorporation has been completed after receipt of a no-objection certificate from the Insurance Regulatory and Development Authority of India (IRDAI).Shares of Jio Financial Services ended 0.5% in the green on Wednesday, May 13. The stock has fallen over 21% in the year so far.

ALSO READ | Bharti Hexacom Q4 revenue rises on higher ARPU but profit slips; declares ₹18 dividend

Note To Readers

Disclaimer – Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.