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Jio Financial Services Ltd (JFSL) on Tuesday announced that it has partnered with Germany’s Allianz to set up a joint venture Allianz Jio Reinsurance Ltd (AJRL) which will operate as a reinsurance company in India. As part of the incorporation AJRL will issue 25000 equity shares with a face value of Rs 10 each amounting to an initial investment of Rs 2.5 lakh. Both JFSL and Allianz will hold a 50 per cent stake in the venture JFSL said in a regulatory filing. Jio Financial Services JV With Allianz of Germany AJRL has been incorporated pursuant to receipt of no objection certificate from Insurance Regulatory and Development Authority of India it said. The Certificate of Incorporation was received from the Ministry of Corporate Affairs by email on September 8 2025 it added. Also Read: Mukesh Ambani Gautam Adani pledge billions on barren land near Pakistan border… it can transform India’s… Both the companies on July 18 had announced a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the dynamic and high-growth insurance market in India. The reinsurance partnership will bring together JFSLs deep local expertise and robust digital footprint with Allianzs strong underwriting and global reinsurance capabilities the statement had said. Highlights Mukesh Ambani Isha Ambani Big move Jio Financial Services and Allianz of Germany alliance Jio Financial Services Partnership With Allianz of Germany Jio Financial Services enters in Reinsurance business The joint venture will leverage Allianzs existing Allianz Re and Allianz Commercial portfolios and activities in India. It will also benefit from Allianzs global set up including its pricing risk selection and portfolio management expertise it had said. Allianz Re has been reinsuring risk in India for over 25 years.  (With Inputs From PTI)