Jio Financial Services and Germany-based Allianz Group have signed a binding agreement to enter into a 50:50 joint venture (JV) for general and life insurance operations in India. Allianz Group, through its wholly-owned subsidiary Allianz Europe B.V. acted on the deal. The reinsurance JV will build on Allianz’s current Allianz Re and Allianz Commercial portfolios and operations within India.