Jio Financial Services, in an exchange filing, announced that the execution of the joint venture agreement with Allianz Europe B.V.
The company, in partnership with Allianz, has established a joint venture named Allianz Jio Reinsurance Limited (AJRL) on September 8, 2025, to conduct reinsurance business in India, subject to regulatory approvals.
According to the exchange filing, the company will invest ₹2.50 lakhs for the initial subscription of 25,000 equity shares with a face value of ₹10 each, representing a 50 per cent stake.
“The Company and Allianz have incorporated a joint venture company named “Allianz Jio Reinsurance Limited” (“AJRL”) on September 8, 2025, to carry on the business of reinsurance in India, subject to regulatory approvals. The Company will invest an amount of Rs. 2.50 lakhs towards initial subscription of 25,000 equity shares of face value Rs. 10/- each for 50% stake,” the company said in the filing.
Jio Financial share price were trading flat, was down 0.32 per cent to ₹310.10 apiece in Tuesday’s trading session. The Reliance Group stock has remained volatile in the near-term, as it given whopping 43 per cent returns to its investors in six months, however, has descended 10 per cent in one year.
Jio Financial Services Q1 results 2025
Jio Financial reported a 3.8 per cent year-on-year increase in its Q1 profit after tax, reaching ₹324.66 crore compared to ₹312.63 crore in the corresponding period last year.
Revenue for the June quarter surged 46.6 per cent year-on-year to ₹612.46 crore, up from ₹417.82 crore.
Jio Financial Services recorded expenses of ₹261 crore for the April–June quarter, marking a sharp rise compared to ₹79.35 crore in the corresponding period last year.
Total income increased by 48.2 per cent to ₹619.46 crore, compared to ₹417.82 crore in the same quarter last year.
The net interest income (NII) jumped 52 per cent year-on-year to ₹264.06 crore in the June 2025 quarter, compared to ₹161.74 crore in the corresponding period last year.
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