IRDAI Approves Allianz Jio Reinsurance and Kiwi General Insurance at 134th Meeting

IRDAI approved two new insurance entities at its 134th meeting: Allianz Jio Reinsurance Limited (50:50 JV between Jio Financial Services and Allianz Group, capital base Rs 300 crore) and Kiwi General Insurance Limited (backed by WestBridge Capital, founded by Neelesh Garg).

Tapan Singhel, Chairman of the General Insurance Council, commented: 'India needs more than a thousand insurers to address the protection needs of every citizen.'

Sources: The Hindu (March 9, 2026), Business Standard (March 9, 2026)