Reliance Life Insurance

Reliance Nippon Life Insurance Company (RNLI) is one of the life insurance companies in India. The firm offers life insurance products targeted at individuals and groups, catering to four distinct segments: protection, children, retirement and investment plans.

Not to be confused with Reliance LYF.

Reliance Nippon Life Insurance Company Limited
TypeJoint venture
IndustryFinancial services
Founded14 May 2001
HeadquartersSantacruz, Mumbai, India
Key people
Anil Ambani
(Chairman)
Ashish Vohra
(CEO)
ProductsLife insurance
Investment management
Total assets₹150 billion (US$2.1 billion)[1]
ParentReliance Capital
Nippon Life
Websitewww.reliancenipponlife.com

History

[2][3][4]

2001AMP Sanmar Life Insurance Company was formed
2002AMP gets IRDA approval to commence business
2005Reliance Life Insurance takes over AMP Sanmar
2006Name changed to Reliance Life Insurance Co. Ltd.
2007ISO 9001:2000 Certification
2008Becomes 4th largest private insurer
2010Becomes the largest private insurer in number of policies
2011Nippon Life signs definitive agreement to acquire 26% of the company.
2016Nippon acquires 49% stake in Reliance Life Insurance Company

Description

As of 31 March 2013, the Total Premium (net of re-insurance) was Rs. 40.15 billion, whereas new business premium stood at Rs. 13.77 billion. The company achieved a profit of Rs. 3.80 billion. The company sold 760,000 policies during 2012–13 with total managed funds valuing to Rs. 181.89 billion, through a wide network of distribution with 1,230 offices and over 124,000 advisors.

Reliance Nippon Life Insurance is a part of Reliance Capital of the Reliance Anil Dhirubhai Ambani Group. [5] [6][7]

See also

References
  1. "Reliance Life Insurance assets cross Rs 15,000 crore". Hindustan Times. 23 August 2010. Archived from the original on 1 November 2010. Retrieved 21 December 2010.
  2. "Archived copy". Archived from the original on 2 February 2014. Retrieved 1 July 2013.CS1 maint: archived copy as title (link)
  3. "Reliance Capital completes MF stake sale to Nippon Life". Business Standard. 17 August 2012. Retrieved 29 July 2018.
  4. "Nippon Life to buy 26% in Reliance Life". Thehindu.com. 14 March 2011. Retrieved 29 July 2018.
  5. "About reliance life insurance". Slideshare.net. Retrieved 29 July 2018.
  6. "Reliance Capital Limited : Reliance Capital announces results for year ended March 31, 2013". 4-traders.com. Retrieved 29 July 2018.
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