Jio Financial Services (JFS) has formed a joint venture, Jio Allianz General Insurance Limited (JAGIL), with Allianz Europe B.V.

JFS will invest ₹4.95 Cr for a 50% stake in JAGIL, aiming to enter India's general insurance sector, including health insurance.

This strategic move marks JFS's expansion into a new financial services domain, potentially enhancing its product portfolio and market presence in the growing Indian insurance landscape.