Cyril Amarchand Mangaldas (“CAM”) acted as legal counsels for Jio Financial Services Limited on a binding agreement with Allianz Group (through its wholly owned subsidiary, Allianz Europe B.V.) to form a 50:50 domestic general insurance joint venture company for carrying on general insurance business (which includes health insurance) in India. The transaction is subject to receipt of statutory and regulatory approvals.
The transaction was led by L. Viswanathan, Partner; and Indranath Bishnu, Partner (Head – Insurance); with support from Kush Wadehra and Anirud Sudarsan R, Principal Associates; and Naman Lodha, Senior Associate.
