Reliance General Insurance

Reliance General Insurance Company Limited
Public Listed Company
Industry Insurance
Founded 2001
Headquarters Mumbai, India
Key people
 Rakesh Jain Executive director & CEO
Products General insurance, Vehicle Insurance, Health Insurance, Travel Insurance, Home insurance
Parent Anil Dhirubhai Ambani Group
Website www.reliancegeneral.co.in

Reliance General Insurance Company Limited is an Indian insurance company, a part of Reliance Capital Ltd. of the Reliance Anil Dhirubhai Ambani Group. The firm is amongst the leading general insurance companies in India, with a private sector market share of over 8%. It had a distribution network composed of 127 branches and over 12,000 intermediaries at the end of June 2013.[1] The Gross Written Premium for the quarter ended June 30, 2013 was Rs. 706 crore (US$126 million).[2] The Gross Written Premium for the year ended March 31, 2013 was Rs. 2,036 crore(US$374 million).[3] Reliance General Insurance (RGI) offers insurance solutions for auto, health, home, property, travel, marine, commercial and other speciality products.[4] The firm is India’s first insurance company to be awarded the ISO 9001:2000 certification across all functions, processes, products and locations in India.[5]

History

Reliance General was incorporated on 17 August 2000, and received the license to conduct the business of insurance in India from the Insurance Regulatory Development Authority on 23rdOctober 2000.[6] Unlike most competitors, who have foreign partners, the firm is promoted solely by Reliance Capital, which is an Indian company. However, media reports suggest Reliance Capital is on the lookout for an eligible partner who can add value to Reliance General.[7] Reliance Capital Chief Executive Officer Sam Ghosh in an interview to Business Standard said may sell stake in its general insurance arm by end of December 2013.[8] Reliance Capital has already sold minor stakes in its life insurance and asset management business to Nippon Life of Japan.[9][10]

Awards & Recognition

References

  1. ↑ "Reliance General Insurance". rcap.co.in. Retrieved 2013-07-30.
  2. ↑ "Reliance Capital Q1FY14 results" (PDF). rcap.co.in. Retrieved 2013-07-30.
  3. ↑ "Reliance Capital FY13 results" (PDF). rcap.co.in. Retrieved 2013-07-30.
  4. ↑ "Reliance General Q1 gross written premium up 25% at Rs 706 crore". economictimes.com. Retrieved 2013-07-30.
  5. ↑ "Reliance General Insurance Company Profile". policybazar.com. Retrieved 2013-07-30.
  6. ↑ "Reliance General Insurance Company Profile". policytiger.com. Retrieved 2013-07-30.
  7. ↑ "Reliance Capital in talks for stake sale in general insurance arm". thehindu.co.in. Retrieved 2013-07-30.
  8. ↑ "General insurance arm stake sale by December: Sam Ghosh". businessstandard.com. Retrieved 2013-07-30.
  9. ↑ "Reliance Capital completes MF stake sale to Nippon Life". businessstandard.com. Retrieved 2013-07-30.
  10. ↑ "Nippon Life to buy 26% in Reliance Life". livemint.com. Retrieved 2013-07-30.

External links

Press Release