India, Sept. 9 -- Update | September 9, 14:15

Over a month after entering into an agreement with German insurance major Allianz to form a joint venture for reinsurance business, Jio Financial Services (JFS) announced the incorporation of Allianz Jio Reinsurance Limited (AJRL).

In an exchange filing, the fintech company said it will invest INR 2.5 Lakh for initial subscription of 25,000 equity shares in the JV company.

AJRL has been incorporated pursuant to the receipt of no objection certificate from the Insurance Regulatory and Development Authority of India.

Original | July 19, 11:13

Fintech company Jio Financial Services (JFS) has inked a binding agreement with insurance giant Allianz Group to form a 50:50 joint venture (JV) for p...