Reliance General Insurance

Last updated

Reliance General Insurance Company Limited
Type Private
Industry Financial services
Founded17 August 2000;23 years ago (17 August 2000)
Founders Anil Ambani
Headquarters
Westin, Goregaon, Mumbai
,
Key people
Rakesh Jain (CEO)
Hemant K Jain (CFO)
Prabhdeep Batra (CMO)
Raman Arora (COO)
Products General insurance
Health insurance
Vehicle insurance
Travel insurance
Home insurance
Crop insurance
Marine insurance
Number of employees
3,829 (September 2021)
Parent Reliance Capital
Website www.reliancegeneral.co.in

Reliance General Insurance Company Limited is an India-based private insurance company and is part of Reliance Anil Dhirubhai Ambani Group, wholly owned through Reliance Capital. As of March 31, 2021, Reliance General Insurance's distribution network is composed of over 129 branches with more than 52,595 intermediaries. [1] [2]

Contents

History

Reliance General Insurance was incorporated on 17 August 2000. [3] 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.[ citation needed ]

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. [4]

Services

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.

Under Commercial Line Portfolio insurance such as fire, home, indemnity, public, marine, public liability, director’s & officer’s liability, plant & machinery.

The home insurance portfolio covers house contents against theft and damage.

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.

<span class="mw-page-title-main">Legal & General</span> British multinational financial services company

Legal & General Group plc, commonly known as Legal & General, is a British multinational financial services and asset management company headquartered in London, England. Its products and services include investment management, lifetime mortgages, pensions, annuities, and life assurance. As of January 2020, it no longer provides general insurance following the sale of Legal & General Insurance to Allianz. It has operations in the United Kingdom and United States, with investment management businesses in the Gulf, Europe and Asia.

Housing Development Finance Corporation was an Indian private sector mortgage lender based in Mumbai. It was the biggest housing finance company in India. It also had a presence in banking, life and general insurance, asset management, venture capital and deposits through its associate and subsidiary companies.

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of 31 March 2023, the bank has a national footprint of 1,780 branches and 2,963 ATMs.

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

Liverpool Victoria, trading since May 2007 as LV=, is one of the United Kingdom's largest insurance companies. It offers a range of insurance and retirement products.

Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It is India's third largest private sector bank by assets and Fourth largest by Market capitalisation. It sells financial services to large and mid-size companies, SMEs and retail businesses.

<span class="mw-page-title-main">Co-op Insurance</span>

Co-op Insurance is the trading name of CIS General Insurance, a general insurance company, which is part of the Co-operative Group, based in Manchester, United Kingdom. Co-op Insurance Services, an insurance intermediary incorporated in 2017, is a wholly owned subsidiary of CIS General Insurance.

Future Group is an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited are two operating companies whose assets are among the top retail companies listed in BSE, with market capitalization among the highest on the National Stock Exchange of India.

<span class="mw-page-title-main">TATA AIG</span> Indian general insurance company and joint venture

Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint venture between the Tata Group and American International Group (AIG). Tata Group holds a 74 percent stake in the insurance venture with AIG holding the balance of 26 percent.

<span class="mw-page-title-main">General Insurance Corporation of India</span> Indian public sector insurance company

General Insurance Corporation of India Limited, abbreviated as GIC Re, is an Indian public sector reinsurance company which has its registered office and headquarters in Mumbai. It was incorporated on 22 November 1972 under Companies Act, 1956. It was the sole nationalised reinsurance company in the Indian insurance market until the insurance market was open to foreign reinsurance players by late 2016 including companies from Germany, Switzerland and France. GIC Re's shares are listed on BSE Limited and National Stock Exchange of India Ltd.

SBI Life Insurance Company Limited is an Indian life insurance company which was started as a joint venture between State Bank of India (SBI) and French financial institution BNP Paribas Cardif. SBI has a 55.50% stake in the company and BNP Paribas Cardif owns a 0.22% stake. Other investors are Value Line Pte. Ltd. and MacRitchie Investments Pte. Ltd., holding a 1.95% stake each while the remaining 12% is free float stake with public investors.It has Assets under management(AuM) worth 314,686 crore (US$39 billion) and a Gross Written Premium(GWP) of 67,320 crore (US$8.4 billion) as of March 2023. SBI Life has an authorized capital of 20 billion (US$250 million) and a paid up capital of 10 billion (US$130 million).

Religare Enterprises Limited (REL) is an Indian investment and financial services holding company, headquartered in New Delhi. REL is listed on National Stock Exchange of India and Bombay Stock Exchange. It is registered with the Reserve Bank of India (RBI).

Poonawalla Fincorp Limited is an Indian non-banking financial company (NBFC) that is engaged in consumer and MSME financing. It is headquartered in Pune and part of the Cyrus Poonawalla Group.

<span class="mw-page-title-main">HDFC ERGO General Insurance Company</span> HDFC ERGO

HDFC ERGO General Insurance Company Limited is a 51:49 joint venture firm between HDFC and ERGO International AG, one of the insurance entities of the Munich Re Group in Germany operating in the insurance field under the BFSI sector. The retail sector includes various products like health insurance, vehicle insurance, travel insurance, home insurance, personal accident insurance and cyber insurance. The Corporate sector includes products like liability, marine and property insurance. Rural sector products include rainfall index insurance, Pradhan Mantri Fasal Bima Yojna, and cattle insurance policy.

<span class="mw-page-title-main">Care Health Insurance</span> Indian health insurance company

Care Health Insurance Limited is an Indian health insurance company established in July 2012. It is part of the Religare Group and a direct subsidiary of Religare Enterprises. Kedaara Capital is a co-promoter of the company. Care Health Insurance is headquartered in Gurgaon, Haryana, and operates out of 158 offices across India with 8500+ employees.

SBI General Insurance Company Limited is a general insurance company founded in 2009. It started operations in 2010 and is headquartered in Mumbai, India.

ICICI Prudential Life Insurance Company Limited is a life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.

References

  1. PTI (6 July 2014). "Reliance General Insurance, Universal Sompo earn maiden net profit in FY14" . Retrieved 6 May 2018.
  2. Kayastha, Anshika (11 December 2023). "Hinduja Group looking to transfer part of Reliance General stake to domestic LLP". BusinessLine.
  3. "RELIANCE GENERAL INSURANCE COMPANY LIMITED" . Retrieved 13 April 2022.
  4. Mehta, Sangita (24 February 2023). "Reliance General Insurance says no new biz if capital not received soon". The Economic Times.