New Delhi: Jio Allianz General Insurance was incorporated on Tuesday, with the Ministry of Corporate Affairs granting a certificate of incorporation.
Jio Financial Services Ltd (JFSL) and Allianz of Germany are holding 50 per cent each in the insurance firm.
Jio Allianz General Insurance Ltd (JAGIL) will carry on the business of general insurance, including health insurance in India, subject to regulatory approvals, JFSL said in a regulatory filing.
The company will invest an amount of Rs 4.95 crore towards the initial subscription of 49,50,000 equity shares of face value Rs 10 each for a 50 per cent stake, it said.
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The transaction does not fall within a related party transaction, and none of the company's promoter/, promoter group/ group companies have any interest in the above transaction, it said.
JAGIL has been incorporated pursuant to receipt of a no-objection certificate from the Insurance Regulatory and Development Authority of India, it added.
The Certificate of Incorporation was received from the Ministry of Corporate Affairs on May 12, 2026, it noted.
Last year, Allianz announced the sale of its 26 per cent stake in two joint ventures, with Bajaj Finserv for approximately USD 2.84 billion, ending a 24-year relationship.
Soon after its exit, the Allianz formalised a binding agreement with JFSL in July 2025.
