Allianz Group, through its wholly owned subsidiary Allianz Europe B.V., has entered into a binding agreement with Jio Financial Services Limited to form a 50:50 primary insurance joint venture for undertaking general insurance (including health insurance).

JSA advised Allianz Group on this JV.

The transaction team was led by Venkatesh Raman Prasad (Partner) and Ronak Ajmera (Partner), with support from Shivani Chugh (Partner), Ankita Jain (Partner), Jatin Talwar (Principal Associate), Udit Rao (Senior Associate), and Associates Priyanka Priyadarshini and Vidit Parmar. They were supported by the following:

Direct Tax: Kumarmanglam Vijay (Partner, Head of Practice - Direct Tax) and Aditya Patadia (Associate)

Indirect Tax: Manish Mishra (Partner, Head of Practice - Indirect Tax), Shareen Gupta (Partner), Joybrata Misra (Principal Associate) and Tanay Vyas (Senior Associate)

Competition Law: Vaibhav Choukse (Partner), Ela Bali (Partner), Nripi Jolly (Principal Associate) and Aditi Khanna (Principal Associate)

Additionally, Sidharth Sethi (Partner), Tony Verghese (Partner) and Radhika Gupta (Partner), advised on certain transaction-specific matters.

Cyril Amarchand Mangaldas advised Jio Financial Services on this JV.

The transaction team was led by L. Viswanathan (Partner) and Indranath Bishnu (Partner, Head - Insurance), with support from Kush Wadehra (Principal Associate), Anirud Sudarsan R (Principal Associate) and Naman Lodha (Senior Associate).

Last year, JSA and CAM had advised Allianz and Jio Financial Services, respectively, on forming a Reinsurance joint venture.

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