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.
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Reliance Life Insurance Company (RLIC), part of Reliance Capital promoted by Anil Ambani , Tuesday announced the launch of a new unit linked insurance plan (ULIP).
The Reliance Life Insurance Highest NAV Advantage Plan offers guarantee on maturity with the highest Net Asset Value (NAV) per unit achieved during the entire 15-year policy term.
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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 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.
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Anil Ambani Group’s life insurance venture Reliance Life expects to tap the capital market with its initial public offer in the first quarter of next fiscal, a top company official said here.
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.
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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.
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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.
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