Jio Financial Services Ltd. and Allianz have subscribed to 32 crore shares of their joint venture, Jio Allianz General Insurance Company Ltd., for a total investment of Rs.320 crore. Following the latest subscription, the total investment in the joint venture has reached Rs.375 crore.
The development strengthens the capital base of the insurance joint venture as it builds its operations in India’s general insurance market. The partnership brings together Jio Financial Services’ financial-services platform and Allianz’s insurance expertise.
