Allianz has founded a Jio Financial Services Limited (JFSL) Jio Financial Services in India.
As the Munich Dax Group announced, an agreement on the foundation in the area of reinsurance was made through the daughter Allianz Europe BV. The Allianz wants to serve the “dynamic and growth strong” Indian insurance market. Allianz has been working in the reinsurance business in India for over 25 years. The JV will accept the activity after receipt of the statutory and regulatory permits.
In addition, the companies have made a non-binding agreement on the establishment of JV in equal parts for the damage and life insurance business in India, as the Alliance continued.
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