Allianz Jio Reinsurance, a joint venture between Jio Financial Services and Allianz Group, has appointed Sonia Rawal as its Chief Executive Officer, with operations commencing on March 26. The company is headquartered in Mumbai and aims to strengthen India’s insurance ecosystem by enhancing risk capacity and resilience.
The joint venture, a 50:50 partnership between Jio Financial Services and Allianz Group, received its final approval from the Insurance Regulatory and Development Authority of India (IRDAI) on March 12. The venture is positioned to play a significant role in supporting insurers by providing greater risk absorption capacity, a key factor for sustainable growth in India’s insurance sector.
Sonia Rawal brings over 17 years of experience in risk management and reinsurance across the Asia-Pacific region. Since 2016, she has been associated with Allianz Reinsurance in Singapore, where she was responsible for the India and ASEAN markets, building strong expertise in regional risk solutions and reinsurance strategy.
Sonia Rawal, Chief Executive Officer, Allianz Jio Re, says:
“I am truly honored to lead Allianz Jio Re and excited for the journey ahead, as we build a reinsurance business that contributes meaningfully to India’s rapidly evolving insurance landscape. We aim to bring a powerful combination of in-depth global and local expertise to the market and create long-term value by delivering tailored products and services to our clients and becoming their trusted partner.”
Hitesh Sethia, Managing Director and CEO of Jio Financial Services, highlighted that the launch of Allianz Jio Re marks a pivotal milestone and the first operational step in the broader insurance partnership with Allianz.
About Allianz Jio Reinsurance:
Allianz Jio Reinsurance is a 50:50 joint venture between Jio Financial Services and Allianz Group, focused on building reinsurance capabilities in India. The company aims to enhance the country’s insurance ecosystem by offering increased risk absorption capacity and supporting long-term sector growth.
