Reliance General Insurance

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Reliance General Insurance Company Limited
TypePrivate
IndustryFinancial services
Founded17 August 2000; 21 years ago (17 August 2000)
FoundersAnil Ambani
Headquarters
Westin, Goregaon, Mumbai
,
India
Key people
Rakesh Jain (CEO)
ProductsGeneral insurance
Health insurance
Vehicle insurance
Travel insurance
Home insurance
Crop insurance
Marine insurance
Number of employees
3,829 (September 2021)
ParentReliance Capital

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 2021, was at ₹8,405 Crore with a distribution network composed of over 129 branches and more than 52,595 intermediaries.[1]

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 for retail & government businesses. Mr. Raman Arora holds the position of chief operating officer of the company.

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 6,400 garages are provided which aims at speeding and simplifying all insurance claims and policy renewal process with quick claim processing and providing real-time claim status.[citation needed]

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.

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.

References[]

Sources

Citations

  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.
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