Jio Financial Services Limited and Allianz SE, through its wholly owned subsidiary Allianz Europe B.V., have entered into a binding agreement to form a 50:50 domestic reinsurance joint venture.
Cyril Amarchand Mangaldas advised Jio Financial Services on this JV.
The transaction team was led by Senior Partner L. Viswanathan and Partner Indranath Bishnu (Insurance Practice Head), with support from Kush Wadehra (Principal Associate), Anirud Sudarsan (Principal Associate) and Naman Lodha (Senior Associate).
JSA advised Allianz Group on this JV.
The transaction team was led by Venkatesh Raman Prasad (Partner) and Ronak Ajmera (Partner), with support from Ankita Jain (Principal Associate), Jatin Talwar (Senior Associate), Udit Rao (Senior Associate), and Associates Stuti Modi and Priyanka Priyadarshini. They were supported by the following:
Direct Tax: Kumarmanglam Vijay (Partner) and Associates Tejasvi Shukla, Aditya Patadia and Harshita Agrawal.
Indirect Tax: Manish Mishra (Partner), Shareen Gupta (Partner), Joybrata Misra (Principal Associate) and Tanay Vyas (Senior Associate).
Dispute Resolution: Sidharth Sethi (Partner).
Competition Law: Vaibhav Choukse (Partner), Ela Bali (Partner) and Aditi Khanna (Senior Associate)
Earlier this year, Allianz had exited from the Bajaj Allianz joint venture insurance companies. With its new joint venture with Jio Financial Services, Allianz is once again set to serve the Indian insurance market.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.