Asia’s leading businessman and Reliance Industries chairman Mukesh Ambani’s business is worldwide, from oil to sports. But now the news is coming that he will also enter the insurance sector. Mukesh Ambani is in talks with a foreign company regarding the deal. Mukesh Ambani will sell insurance if everything goes well after finalizing the deal with this foreign company. Let’s know what Mukesh Ambani’s complete plan is.
What Is The Matter?
Mukesh Ambani’s company, Jio Financial Services Limited, has started talks with German insurance company Allianz SE about entering the insurance sector. According to the Economic Times report, two sources related to the matter said that the German firm wants to end two joint ventures in the country. In such a situation, Mukesh Ambani wants to take advantage of this opportunity.
Recently, Allianz announced that it would end its deal with Bajaj, after which Mukesh Ambani is eyeing this deal. Jio Financial wants to enter the general and life insurance business with the German company Allianz.
According to the Economic Times, these talks are still in the initial stage, but if this deal happens, Jio’s entry into the insurance sector will increase competition. Rival companies can also cut their costs. However, no official statement has come from Ambani or Reliance on this conversation.
Ambani Will Also Distribute Loans
Jio Financial has entered the financial sector through shadow banking operations and insurance brokerage. The company is working with foreign company BlackRock Inc. to enter the asset management segment.
