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Economic Times
21-07-2025
- Business
- Economic Times
Jio Financial Services shares in focus after 50:50 reinsurance JV with Allianz
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Jio Financial Services Ltd (JFSL) are likely to be in focus on Monday after the company announced a 50:50 domestic reinsurance joint venture with Allianz Group . The binding agreement was signed through Allianz's subsidiary Allianz Europe agreement aims to serve India's growing insurance market by combining JFSL's local expertise with Allianz's global reinsurance and underwriting partnership will leverage JFSL's digital network and Allianz's existing India portfolios, along with its global experience in risk pricing, portfolio management, and reinsurance. Allianz Re has been active in India for over 25 JV intends to provide strong reinsurance capacity to insurers across India, helping them manage risks more effectively. It will also support India's goal of expanding insurance access under the national vision of 'Insurance for All by 2047.' Operations are expected to commence post regulatory JFSL and Allianz have entered into a non-binding agreement to explore forming joint ventures in general and life insurance businesses in India. The collaboration aims to deliver innovative insurance solutions by combining the strengths of both brands.'India is witnessing a transformative surge in insurance demand, driven by rising prosperity, growing financial awareness, and rapid digital adoption. This partnership, combining Allianz's global reinsurance expertise with JFSL's deep understanding of the Indian market and strong digital infrastructure, aims to deliver innovative and customized reinsurance solutions to insurers. Aligned with the national goal of ' Insurance for All by 2047 ', we are committed to building a stronger and more inclusive insurance ecosystem that ensures broader access to protection for every Indian. We are excited to shape this transformative journey together,' said Isha M. Ambani, Non-executive Director, Jio said its focus remains on digitally delivering financial solutions addressing the core needs of borrowing, investing, transacting, and protecting for every Indian. Allianz reaffirmed its commitment to India's long-term growth, citing the country's strong economy, rising middle class, and increasing demand for insurance products as key drivers for future value Friday, Jio Financial Services shares closed flat with a negative bias at Rs 316.70 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
21-07-2025
- Business
- Time of India
Jio Financial Services shares in focus after 50:50 reinsurance JV with Allianz
Shares of Jio Financial Services Ltd (JFSL) are likely to be in focus on Monday after the company announced a 50:50 domestic reinsurance joint venture with Allianz Group . The binding agreement was signed through Allianz's subsidiary Allianz Europe B.V. The agreement aims to serve India's growing insurance market by combining JFSL's local expertise with Allianz's global reinsurance and underwriting capabilities. Explore courses from Top Institutes in Select a Course Category Healthcare Others Public Policy Data Science others MCA Artificial Intelligence Cybersecurity Data Analytics Technology Management Degree Design Thinking MBA Project Management Operations Management Finance Leadership CXO Digital Marketing PGDM Product Management Data Science healthcare Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details The partnership will leverage JFSL's digital network and Allianz's existing India portfolios, along with its global experience in risk pricing, portfolio management, and reinsurance. Allianz Re has been active in India for over 25 years. The JV intends to provide strong reinsurance capacity to insurers across India, helping them manage risks more effectively. It will also support India's goal of expanding insurance access under the national vision of 'Insurance for All by 2047.' Operations are expected to commence post regulatory approvals. Additionally, JFSL and Allianz have entered into a non-binding agreement to explore forming joint ventures in general and life insurance businesses in India. The collaboration aims to deliver innovative insurance solutions by combining the strengths of both brands. Live Events 'India is witnessing a transformative surge in insurance demand, driven by rising prosperity, growing financial awareness, and rapid digital adoption. This partnership, combining Allianz's global reinsurance expertise with JFSL's deep understanding of the Indian market and strong digital infrastructure, aims to deliver innovative and customized reinsurance solutions to insurers. Aligned with the national goal of ' Insurance for All by 2047 ', we are committed to building a stronger and more inclusive insurance ecosystem that ensures broader access to protection for every Indian. We are excited to shape this transformative journey together,' said Isha M. Ambani, Non-executive Director, Jio Financial. JFSL said its focus remains on digitally delivering financial solutions addressing the core needs of borrowing, investing, transacting, and protecting for every Indian. Allianz reaffirmed its commitment to India's long-term growth, citing the country's strong economy, rising middle class, and increasing demand for insurance products as key drivers for future value creation. On Friday, Jio Financial Services shares closed flat with a negative bias at Rs 316.70 on the BSE. Also read: Is RIL's strong profit growth sustainable amid rising capital expenditure? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The Hindu
18-07-2025
- Business
- The Hindu
Jio Financial Services, Allianz to form 50:50 reinsurance JV in India
Jio Financial Services Limited (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary Allianz Europe B.V., have entered into a binding agreement to form a 50:50 domestic reinsurance joint venture to serve the insurance market in India. The JV will leverage Allianz's existing Allianz Re and Allianz Commercial portfolios and activities in India. It will also benefit from Allianz's global setup, including its pricing, risk selection and portfolio management expertise. Allianz Re has been reinsuring risk in India for over 25 years. 'The reinsurance JV between JFSL and Allianz will help insurers manage risks more effectively by providing access to strong underwriting capabilities and competitive capacity - ultimately strengthening the resilience of the entire insurance ecosystem, JFSL said in a statement. The JV will launch operations post receipt of statutory and regulatory approvals. The two companies have also entered into a non-binding agreement for setting up equally owned joint ventures for both general and life insurance businesses in India. Allianz recently ended it's 24-year alliance with Bajaj Finserv. Isha M. Ambani, Non-executive Director , Jio Financial Services Ltd said, 'India is witnessing a transformative surge in insurance demand, driven by rising prosperity, growing financial awareness, and rapid digital adoption.' 'This partnership, combining Allianz's global reinsurance expertise with JFSL's deep understanding of the Indian market and strong digital infrastructure, aims to deliver innovative and customized reinsurance solutions to insurers,' she said. Oliver Bäte, Chief Executive Officer , Allianz SE, said, 'Allianz and Jio Financial Services are two trusted brands distinguished for customer excellence, and we are very much looking forward to actively contributing to and participating in this exciting journey of change.'
Mint
18-07-2025
- Business
- Mint
Reliance Retail Q1 results: Profit jumps 28.3% to ₹3,271 crore
New Delhi: Reliance Retail Ventures Ltd, Reliance Industries Ltd's retail arm, on Friday reported a consolidated profit of ₹ 3,271 crore for the April-June first quarter, up 28.3% from a year ago. Revenue from operations grew 11.3% year-on-year to ₹ 73,720 crore. Reported ebitda at ₹ 6,381 crore was up 12.7% year-on-year, while ebitda margin improved further by 20 bps year-on-year to 8.7%. Ebitda, a measure of core operations, stands for earnings before interest, taxes, depreciation, and amortization. Reliance Retail operates across categories such as grocery, consumer electronics, fashion and lifestyle, and online commerce. All segments performed well, with market leading performance in grocery and fashion. Consumer electronics and devices, however, were impacted due to the early onset of monsoons, the company said in a statement Friday. Reliance Retail expanded its store network with 388 new store openings during the first quarter, taking its total store count to 19,592. Its area under operation at 77.6 million in the first quarter was up marginally from the preceding March quarter but down 4.6% year-on-year. Online commerce platform, JioMart, continued to expand quick hyperlocal deliveries, registering a 175% year-on-year growth in daily orders during the first quarter. 'Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience,' Isha M. Ambani, executive director, Reliance Retail, said. The company's fashion and lifestyle business witnessed growth in first-quarter revenue and ebitda driven by new store formats and strong performance of its in-house brands. The company's consumer electronics business reported overall growth, but sales of air conditioners were impacted due to the early onset of monsoon. Reliance Retail on Friday also announced the acquisition of the home appliances brand Kelvinator for India from the Swedish manufacturer Electrolux AB after holding manufacturing and distribution rights for the brand since 2019. The company's online fashion platform, AJIO, launched Rush, its 4-hour delivery service, during the first quarter. The service is live in six cities, matching rivals such as Myntra that also offer quick deliveries. The brand's Luxe platform continued to grow and launched several brands during the quarter, taking its portfolio to 875 brands. 'With faster deliveries, the initiative will further improve customers' shopping experience on the platform. The initiative is delivering better unit economics driven by higher average bill value and lower returns,' Reliance Retail said.
Mint
18-07-2025
- Business
- Mint
Reliance Retail Q1 results: Profit jumps 28.3% to ₹3,271 crore
New Delhi: Reliance Retail Ventures Ltd, Reliance Industries Ltd's retail arm, on Friday reported a consolidated profit of ₹ 3,271 crore for the April-June first quarter, up 28.3% from a year ago. Revenue from operations grew 11.3% year-on-year to ₹ 73,720 crore. Reported ebitda at ₹ 6,381 crore was up 12.7% year-on-year, while ebitda margin improved further by 20 bps year-on-year to 8.7%. Ebitda, a measure of core operations, stands for earnings before interest, taxes, depreciation, and amortization. Reliance Retail operates across categories such as grocery, consumer electronics, fashion and lifestyle, and online commerce. All segments performed well, with market leading performance in grocery and fashion. Consumer electronics and devices, however, were impacted due to the early onset of monsoons, the company said in a statement Friday. Reliance Retail expanded its store network with 388 new store openings during the first quarter, taking its total store count to 19,592. Its area under operation at 77.6 million in the first quarter was up marginally from the preceding March quarter but down 4.6% year-on-year. Online commerce platform, JioMart, continued to expand quick hyperlocal deliveries, registering a 175% year-on-year growth in daily orders during the first quarter. 'Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience,' Isha M. Ambani, executive director, Reliance Retail, said. The company's fashion and lifestyle business witnessed growth in first-quarter revenue and ebitda driven by new store formats and strong performance of its in-house brands. The company's consumer electronics business reported overall growth, but sales of air conditioners were impacted due to the early onset of monsoon. Reliance Retail on Friday also announced the acquisition of the home appliances brand Kelvinator for India from the Swedish manufacturer Electrolux AB after holding manufacturing and distribution rights for the brand since 2019. The company's online fashion platform, AJIO, launched Rush, its 4-hour delivery service, during the first quarter. The service is live in six cities, matching rivals such as Myntra that also offer quick deliveries. The brand's Luxe platform continued to grow and launched several brands during the quarter, taking its portfolio to 875 brands. 'With faster deliveries, the initiative will further improve customers' shopping experience on the platform. The initiative is delivering better unit economics driven by higher average bill value and lower returns,' Reliance Retail said. The company's fast-fashion brand, Shein, continued to receive strong traction and has crossed 2 million app downloads. Premium brands business continued to lead the segment with the widest portfolio of brands.
