IRDAI approves two new insurance players: Allianz Jio Reinsurance, Kiwi General Insurance

• The Insurance Regulatory and Development Authority of India (IRDAI) approved Allianz Jio Reinsurance and Kiwi General Insurance.
• Allianz Jio Reinsurance is a 50:50 joint venture between Germany’s Allianz Group and Jio Financial Services, operating as a domestic reinsurer.
• Kiwi General Insurance, backed by WestBridge Capital and Neelesh Garg, will undertake general insurance business.
• Approvals were granted during IRDAI's 134th board meeting, issuing certificates of registration.
• IRDAI also reviewed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, and approved drafting new regulations.