Reliance Life Insurance Company Limited is now known as Reliance Nippon Life Insurance Company Ltd. It is claimed to have market share of around 5%. With policyholder base of 70 lac customers with 1,230 branches and 1,24,000+ agent base. In 2001, AMP Sanmar Life Insurance company was formed which was taken over by Reliance and later renamed to Reliance Life Insurance.

Insurance Plans

  • Protection Plan
  • Saving Plan
  • Retirement Plan
  • Unit Linked Investment Plan
  • Child Insurance Plan
  • Health Insurance Plan
  • Group Insurance Plan

Financials

  • Premium for FY 2016-17: INR 402.6 crore
  • Total Commissions paid to procure business: INR 113 crore
  • Profit/Loss carried to FY 2017-18: INR 258.4 crore
  • Shareholding Pattern: Indian: Foreign = 610 Million shares : 586 Million shares = 51%:49%
  • Total Lives Insured: 84,653
  • Total Sum Assured: INR 295 crore
  • Average Policy Value: INR 34,848
  • No. of Claims settled: 1,14,139
  • No. of Claims settled for death: 2,884

Key Persons

  • Mr. Ashish Vohra (MD & CEO)
  • Mr. Prithesh Chaubey (Appointed Actuary)
  • Mr. S.V. Sundar Krishnan (CRO)
  • Mr. Sunil Agarwal (CFO)
  • Mr. Viral Berawala (CIO)
  • Mr. Ashish Lakhtakia (Head Legal & CS)

Reliance Nippon Life Insurance in August 2017 had filed IPO papers. The total stake dilution @10% is proposed in turn of 24 million new shares being issued. Reliance and Nippon life both shall share 36.72 million shares in market. The total amount to be collected from market is INR 1,800 crore.

Overall, Reliance Nippon Life Asset Management Ltd. – India’s third largest expects to widen its base in India market in coming future.

 

Reliance Nippon Life Insurance
Rating: 5
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Comments:

  • October 3, 2017 at 11:48 am
    Permalink

    Reliance plans are good. I purchased term plan two years back and till now good service.

    Rating: 5
    Reply

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