Jio Financial forms JV with Allianz, check stock reaction

Shares of Jio Financial were trading on a flat note on Tuesday even as the firm said it has formed a  joint venture company with Allianz Europe B.V. to form a domestic reinsurance joint venture company.

Jio Financial stock was trading on a flat note at Rs 308.80 against the previous close of Rs 311 on BSE. Market cap of the firm stood at Rs 1.96 lakh crore. 

"The Company and Allianz have incorporated a joint venture company named “Allianz Jio Reinsurance Limited” (“AJRL”) on September 8, 2025, to carry on the business of reinsurance in India, subject to regulatory approvals. The Company will invest an amount of Rs. 2.50 lakhs towards initial subscription of 25,000 equity shares of face value Rs. 10/- each for 50% stake," said Jio Financial. 

"The transaction does not fall within related party transaction and none of the Company’s promoter/ promoter group/ group companies have any interest in the above transaction. AJRL has been incorporated pursuant to receipt of no objection certificate from Insurance Regulatory and Development Authority of India," added Reliance Industries' financial arm.