Change in Plans: Allianz is shifting its strategy for India, its existing partnership with Bajaj Finserv could be transitioned to a new partnership with Jio Financial Services.
Focus on Insurance: The plan seems to be to create an insurance company in India, which will include health and general insurance.
Phase One Agreement: Allianz SE and Jio Financial Services Phase One Agreement has been reached. This is the first step, to create an insurance company.
Ownership and Governance: Allianz wants a significant role in the new company, aiming for either a majority ownership position or significant governance authority.
after they have agreed to sell their stakes in the joint ventures with Bajaj Finserv. This creates the opportunity to pursue a different strategy in the Indian insurance market.