Mumbai: Reliance Life Insurance will get capital infusion of around Rs 1,500 crore until 2010. The company''s current capital base stands at Rs 900 crore. The capital investment of Rs 1,500 crore from the company''s parent, Reliance Capital, would meet its growth needs in the next three years. He said the company had so far raked in Rs 930 crore in new business premium, against Rs 930 crore in the whole of last fiscal. In the first six months of the fiscal, the company raked in Rs 650 crore in new business premium, a growth of 165 per cent against Rs 245 crore in the year-ago period.
The company''s agency force of 1.4 lakh agents will also be expanded to two lakh in the next six months. The company is currently present in 500 towns and by next year, it expects to increase its presence to 1,000 towns. Around 90 per cent of the company''s business comes from unit-linked insurance plans. The company is eyeing at expanding its product suite and plans to soon file a health insurance product with the Insurance Regulatory and Development Authority. Reliance Life Insurance on Nov 21, unveled a new product called Reliance Child Secure Plan.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment