Mumbai: Allianz Jio Reinsurance has appointed Sonia Rawal because the chief government officer of the three way partnership, which has commenced operations on 26 March.
Rawal brings 17 years of expertise in danger administration and reinsurance throughout Asia-Pacific. She has been with Allianz Reinsurance in Singapore since 2016, overseeing India and ASEAN markets.
The 50:50 three way partnership between Jio Monetary Providers and Allianz Group obtained ultimate approval from the Insurance coverage Regulatory and Growth Authority of India on 12 March.
Headquartered in Mumbai, Allianz Jio Re stated it goals to develop into a strategic long-term accomplice for the Indian market with a mission to fortify the resilience of the nation’s insurance coverage ecosystem.
“The launch of Allianz Jio Re is a pivotal milestone, marking the primary operational step in our broader insurance coverage partnership with Allianz,” stated Hitesh Sethia, managing director and chief government officer of Jio Monetary Providers in a launch on Thursday. The corporate stays dedicated to strengthening the nation’s resilience by offering insurers with “higher risk-absorption capability” to assist general progress of the insurance coverage ecosystem, Sethia added.
The three way partnership was first introduced in July 2025 and arrange in September 2025. Jio Monetary had then stated it plans to take a position ₹2.5 lakh in the direction of preliminary subscription of 25,000 fairness shares of face worth ₹10 every for 50% stake within the enterprise.
The 2 entities have additionally signed non-binding agreements to arrange equally-owned joint ventures for each common and life insurance coverage companies in India.
“We goal to carry a robust mixture of in-depth world and native experience to the market and create long-term worth by delivering tailor-made services and products to our shoppers and turning into their trusted accomplice,” Rawal was quoted as saying within the launch.
Allianz lately exited its long-standing joint ventures with the Bajaj Group, promoting a 23% stake every in life and common insurance coverage companies in January 2026 for ₹21,390 crore. The Bajaj Group’s possession has since risen to 97%.
“Allianz will think about choices for the redeployment of the proceeds that align with the corporate’s strategic priorities. It will embody investments into our new joint ventures in India,” it had then stated.
