INSURANCE

Reliance Life Insurance Company

Reliance Capital Limited holds 100% economic interest in Reliance Life Insurance Company Limited. In September 2005, Reliance Capital bought Chennai based life insurance company AMP Sanmar Life Insurance Company Limited to make a direct entry into life insurance with the existing customer base. Reliance Capital had acquired the entire equity capital of AMP of Australia and Chennai-based Sanmar Group in AMP Sanmar Life Insurance. EWRM and Financial Strength Rating: BWR AAA The AMP Sanmar Life Insurance had over 90 offices across the country, over 9,000 agents and 900 employees at the time of acquisition. The Company’s market share, in terms of new business weighted receipt premium, has increased over last four years from 1.1% in 2005-06 to 10.50% in 2009 -10. As of Dec 2010 the company is amongst top five private life insurers in India. As per FY10 data, RLIC has 1248 branches 1,95,565 Advisors and over 17,169 employees. As on Dec 2010, the Company has approximately seven million policies issued. The Company is well diversified, geographically, 37% offices are in rural locations, 46% in semi urban, 10% in Urban and 7% in metro locations. All offices are connected online and well integrated with the core systems. The policy generation is completely automated across all offices.

Nippon Life Insurance Company, Japan's largest private insurer signed agreements to acquire 26% stake in RLIC, subject to necessary regulatory approvals. Nippon Life Insurance Company Limited, Japan, is Asia’s largest private insurer and the sixth largest insurer in the world. Apart from capital RLIC would benefit from vast experience, expertise and global best practices that Nippon Life Insurance company would bring in the areas of product development, underwriting, investment management, customer relationship management and enhanced risk management practices.

Read More
brick work finance academy