Reliance Life new business up two-fold at Rs 514 cr in Q1 - Indian Express

PTI : New Delhi, Wed Jul 10 2013, 15:25 hrs Private sector Reliance Life Insurance today said its new business premium rose by two fold to Rs 514 crore during the first quarter ended June 30 as against Rs 251 crore in the corresponding quarter a year ago. The company recorded 48 per cent growth in new business (individual) premium at Rs 267 crore in the April-June quarter of 2013-14 as against Rs 181 crore registered in the same period of the previous fiscal, Reliance Life Insurance said in a statement posted on the BSE. The total premium grew by 12 per cent to Rs 914 crore in the first quarter of this fiscal from Rs 815 crore in the same period last year, it said. The company increased its average ticket size by over 40 per cent in the quarter, and touched Rs 20,000 by quarter end. "We are now amongst the top five private life insurers in the country and hope to further improve our market share in coming quarters," said Reliance Life Insurance CEO Anup Rau said. "We continue to focus on traditional products and agent productivity. Our product portfolio has undergone a significant and profitable change, with 80 per cent of business now coming from traditional products, and only 20 per cent from unit-linked products," he said. ALSO READ Rakesh Jhunjhunwala's wife hikes stake in Kesoram Industries Tata Steel India Q1 sales up 26% to 2.1 MT May Industrial output seen at 3-month low of 1.6 per cent y/y Sensex up 50 points in early trade Please read our terms of use before posting comments TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s). via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEx0yiHS_X9mmpS2UOuJ-cm6OXn6Q&url=http://www.indianexpress.com/news/reliance-life-new-business-up-twofold-at-rs-514-cr-in-q1/1140089/

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