Reliance General Insurance

Reliance General Insurance Company Limited is an Indian private insurance company and a part of Reliance Anil Dhirubhai Ambani Group, wholly owned through Reliance Capital. The Gross Written Premium for the year ended 31 March 2018, was at ₹5,122 crores (US$788 million) with a distribution network composed of over 128 branches and more than 27,888 intermediaries.[1]

Reliance General Insurance Co. Ltd.
TypePrivate
IndustryFinancial services
Founded17 August 2000 (17 August 2000)
FoundersAnil Ambani
Headquarters
Santacruz, Mumbai
,
India
Key people
Rakesh Jain (CEO)
ProductsGeneral insurance
Health insurance
Vehicle insurance
Travel insurance
Home insurance
Crop insurance
Marine insurance
Number of employees
2,528 (March 2018)
ParentReliance Capital
Websitewww.reliancegeneral.co.in

History

Reliance General Insurance was incorporated on 17 August 2000. It received the license to conduct general insurance business in India from the Insurance Regulatory Development Authority of India (IRDAI) on 23 October 2000. Unlike most insurance companies, who have foreign partners, the firm is promoted solely by Reliance Capital.[2]

Management

Rakesh Jain serves as the chief executive officer and executive director. Before taking this role, he served as the director – Corporate Centre & CFO at ICICI Lombard GIC Ltd. He has received the 'Best CFO' award in the financial services Sector given by the Institute of Chartered Accountants Of India.[3]

Hemant K Jain is the chief financial officer. Prabhdeep Batra holds the position of chief marketing officer for corporate business. Anand Singhi serves as the chief distribution officer.

Services

Reliance General Insurance offers insurance services across the domains of motor, health, travel and home. The commercial insurance services include commercial vehicle, office and marine.

Motor insurance covers four-wheeler, two-wheeler and commercial vehicles. Services such as roadside assistance and cashless facilities through a network of around 2400 garages are provided. Under Health, there are several plans to choose from. They include Healthgain (can be availed in installments), Wellness, Critical Illness and Personal Accident.

In travel, Reliance General Insurance provides plans for overseas trips such as Schengen, Asia and the US. Travel plans tailored for students and senior citizens are also available. The home insurance portfolio covers house contents against theft and damage.

Reliance Capital
Main article: Reliance Capital

Reliance General Insurance is a 100% subsidiary of Reliance Capital Limited (BSE: 500111, NSE: RELCAPITAL), a diversified financial services holding company promoted by Reliance Group.

Awards

Reliance General Insurance was awarded as India's first insurance company to get an ISO 9001:2008 certification for end-to-end services of general insurance product offerings across India. It won the "General Insurance company of the year" award at the Indian Insurance Awards in 2015. In 2016, the company received ET Best BFSI Brands.[4]

References
  1. PTI (6 July 2014). "Reliance General Insurance, Universal Sompo earn maiden net profit in FY14". Retrieved 6 May 2018.
  2. "Company Overview of Reliance Capital Limited". Bloomberg. Retrieved 21 March 2017.
  3. "Company Overview of Reliance General Insurance Company Limited". Bloomberg. Retrieved 21 March 2017.
  4. "Awards and Recognitions". Reliance General Insurance. Retrieved 21 March 2017.
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