Cyril Amarchand Managaldas represented Jio Financial Services Limited (JFSL) and JSA acted for the Allianz Group in the reinsurance joint venture agreement between the two entities.

CAM acted as legal counsel for JFSL, on a binding agreement with Allianz (through its wholly-owned subsidiary, Allianz Europe B.V.), to form a 50:50 domestic reinsurance joint venture. The transaction is subject to receipt of statutory and regulatory approvals.

JFSL and Allianz also entered into a non-binding agreement for setting up equally owned joint ventures for both general and life insurance businesses in India.

The Transaction team at CAM included Senior Partner L. Viswanathan, Partner Indranath Bishnu, Principal Associates Kush Wadehra, & Anirud Sudarsan, and Senior Associate Naman Lodha.

JSA advised Allianz Group on the binding agreement entered between Allianz SE’s wholly owned subsidiary Allianz Europe B.V. (Allianz Europe) and JFSL to form a 50:50 domestic reinsurance joint venture in India.

The Transaction Team at JSA comprised of Partners, Venkatesh Raman Prasad and Ronak Ajmera, Principal Associate, Ankita Jain and Senior Associates, Jatin Talwar and Udit Rao, with support from Associates, Stuti Modi and Priyanka Priyadarshini.

The direct tax team comprised of Partner, Kumarmanglam Vijay and Associates, Tejasvi Shukla, Aditya M. Patadia and Harshita Agrawal. The indirect tax team comprised of Partners, Manish Mishra and Shareen Gupta, Principal Associate, Joybrata Misra and Senior Associate, Tanay Vyas.

Partner Sidharth Sethi advised on dispute resolution related issues and the competition team comprising of Partners Vaibhav Choukse and Ela Bali along with Senior Associate Aditi Khanna advised on anti-trust aspects.