Reliance Life Insurance today said it has launched an online plan — Reliance Life Insurance eTerm — with a maximum life cover of Rs 1 crore for policyholders in the age bracket of 18-60 years, which will simplify the process of buying an insurance cover.
Continue reading Reliance Life Insurance launches online life cover plan
Reliance Life Insurance, part of the Anil Dhirubhai Ambani Group company Reliance Capital , Thursday forayed into health insurance , launching a family floater plan, Reliance Life Care for You Plan.
We are targeting to become the third largest player in health cover segment within three years, Malay Ghosh, Reliance Life Insurance president and executive director, told reporters here.
The company this year is targeting to cover 500,000 lives and first year premium income of Rs 150 crore. In three years, it expects to mop up Rs.1,000 crore by covering 1.5 million lives and Rs 2,000 crore in the fifth year by covering 5 million lives, said Ghosh.
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Anil Dhirubhai Ambani Group firm Reliance Life Insurance on Tuesday launched two new products -Jan Samriddhi Plan and Super InvestAssure Plan here and aims to garner Rs 600 crore premium from them within this fiscal.
Jan Samriddhi Plan, which is targeted at the rural population, will have premium instalments of Rs 50 per month and will offer guaranteed returns along with accidental cover and maturity benefits.
Available to a group of a minimum 5,000 members, its minimum annualised premium will be Rs 5,000, while maximum limit will be at Rs 10,000.
Continue reading Reliance Life Insurance new products:Jan Samriddhi Plan and Super InvestAssure Plan
Reliance Life Insurance, a unit of billionaire Anil Ambani‘s Reliance Capital Ltd., plans to sell as much as 20 percent of its equity if it gets approval from the Indian government for an initial public offering.
The company has applied to the finance ministry for a waiver on existing rules tied to listings, it said in an e- mailed statement today. The Mumbai-based firm has been in operation for seven years. Indian rules mandate life insurers be in business for 10 years before they are allowed to sell shares to the public.
Continue reading Reliance Life applies for Initial Public Offering in India
RELIANCE LIFE Insurance, the insurance company which works under the Anil Ambani owned Reliance Capital, is focusing more on its health insurance segment rather than promoting its general insurance category. The company has taken this step after analysing a better distribution network of its health insurance business.
Chief Executive of Reliance Capital, Sam Ghosh said that the company is planning to sell three or four types of health insurance products through the life insurance company. The company is targeting a position among top three players in this segment with total 10 per cent market share in the next three years.
Continue reading Reliance Life will focus more on health insurance products
Eyeing a place among the top-three health insurers in the country within three years, Anil Ambani group firm Reliance Life Insurance today said it is strengthening its portfolio of health insurance products in the coming months.
Reliance Life Insurance currently has one hybrid health product providing wealth accumulation along with health insurance.
The company will be strengthening the portfolio in the coming months with a basket full of health insurance products total reimbursable health expenses, individual and family floater on both group and individual product platforms, long term care among others, Reliance Capital CEO Sam Ghosh said.
Continue reading Reliance Life to strengthen its health insurance products
After growing its life insurance business at above average growth rate in the last three years, ADA Group is now entering the rural market in a big way.
Reliance Life Insurance is targeting about Rs 500 crore of new premium from rural areas over the next three years, compared to just about Rs 10 crore now. The group is also on track to infuse additional equity capital into its life business, taking the total equity base of Reliance Life to over Rs 3,000 crore from Rs 2,700 crore now, said Sam Ghosh, CEO, Reliance Capital, which is the parent company for ADAG’s life insurance business.
Continue reading Rel Life Insurance targets indian rural mart
The insurance regulator, Insurance Regulatory and Development Authority or IRDA, said initial public offering or IPO approvals would not be on case-to-case basis. In other words, it clearly indicates that the IPO of Reliance Life Insurance is likely to get delayed, media reports said.
Reliance Life Insurance IPO will have to wait for some time, as it has not completed ten years of operations as of now. Besides, there is lack of clarity in terms of the Insurance Acts, specifying that company can list after ten years, but there is a lot of ambiguity on what will happen before that.
Continue reading Reliance Life Insurance IPO may get delayed
Reliance Life Insurance plans to launch an initial public offering (IPO), if it gets government approval. It plans to divest 20% in IPO after getting government nod, reports CNBC-TV18 quoting Dow Jones.
The company had approached the Finance Ministry seeking permission to launch an initial public offering (IPO). Under the current regulations, a company cannot list unless it has been in existence for 10 years — except in case of the central government’s permission.
Continue reading Reliance Life Insurance awaits government approval for IPO