Jio Financial and Allianz launch JAGIL for general, health insurance
Business
Jio Financial Services and Germany's Allianz Group are launching Jio Allianz General Insurance Ltd. (JAGIL), a fresh joint venture set to offer general and health insurance across India.
Both companies will share ownership equally, marking a big move after Allianz ended its long-standing partnership with Bajaj Finserv last year.
JAGIL incorporated, Jio Financial invests ₹4.95cr
JAGIL was officially incorporated on May 12, 2026.
Jio Financial is investing ₹4.95 crore for half the stake, grabbing 49.5 lakh shares at ₹10 each.
The venture has already cleared key regulatory hurdles, getting the green light from both the Ministry of Corporate Affairs and IRDAI.