IRDAI Approves Allianz Jio Reinsurance Venture to Begin Operations in India

Jio Financial Services and Allianz Europe B.V. have secured regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to commence operations of their joint venture, Allianz Jio Reinsurance Limited, as a reinsurance company in India. The venture, incorporated in September 2025, aims to build domestic reinsurance capabilities by combining Jio's local distribution with Allianz's global expertise. This development follows prior disclosures and enables the company to enter the Indian reinsurance market.