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The Economic Times

Jio Financial, Allianz pump Rs 640 crore into general insurance JV via rights issue

Jio Financial Allianz Insurance Jio Financial Services

Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in Jio Allianz General Insurance Ltd through a rights issue, taking the total funds raised by the 50:50 joint venture to Rs 640.1 crore.

The investments, made for cash at par, will be used by Jio Allianz General Insurance to fund its business operations, Jio Financial Services said in a regulatory filing on Wednesday.

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