Bank is considering raising its holding in the life insurer to 30%, after RBI rule changes opened the door for larger bank investments in insurance companies.
The newly minted reinsurer generated ₹2.66bn in gross premiums in its first full quarter, highlighting early traction for Jio Financial's insurance partnership with Allianz.
Co-founded by former Tata AIG CEO Neelesh Garg, the Indian start-up is eyeing a broader product rollout, including commercial vehicle and group health offerings, in the coming months.