Reliance Life is in talks with Chinese insurance giant China Life for a pre-initial public offer (IPO) placement. The Anil Dhirubhai Ambani group company is also in discussions with a private equity player for a total placement of 15% stake. The private insurer has been contemplating public offer for over six months now and is awaiting a government waiver to allow the IPO. However, the company said it has not entered into any discussions with any insurance firm for pre-IPO placements, as the process would start only after the IPO guidelines were in place.
Continue reading China Life May Invest In Reliance Life Insurance
It will be realistic to think that the Reliance Life IPO happens sometime in the first quarter of the next financial year, Reliance Capital CEO Sam Ghosh told.
Continue reading Reliance Life IPO likely in Q1 of next financial year: Sam Ghosh
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
In addition, the Reliance Anil Dhirubhai Ambani Group (ADAG) has tweaked its private equity (PE) plans, which have been delayed by several months, to focus on domestic sources of funding.
We are considering various options to unlock value in our life insurance business, from a potential IPO (initial public offer) to strategic or financial stake sale or a combination of both. A final decision will be taken shortly, Ambani said at Reliance Capital’s annual general meeting here.
Continue reading Reliance Capital to sell life insurance stake
Reliance Life Insurance Company (RLIC), part of the Reliance Anil Dhirubhai Ambani Group, on Thursday announced the elevation of Malay Ghosh as president, as part of the company’s overall growth plans.
Malay Ghosh has taken over as the president, Reliance Life Insurance, from his previous role of deputy chief executive officer to further lead and strengthen the organisation and continue to provide direction and focus.
Continue reading Malay Ghosh elevated as president of Reliance Life Insurance