August 16, 2017 2:16 PM ET

Insurance

Company Overview of Reliance General Insurance Company Limited

Company Overview

Reliance General Insurance Company Limited provides general insurance solutions to individuals, corporates, and small and medium enterprises. It offers motor insurance products, including car, two wheeler, and commercial vehicle insurance; travel insurance products; house and property insurance products; corporate insurance products, such as fire, engineering, marine, liability, and package insurance; and burglary and housebreaking, fire, package, marine, and group mediclaim insurance for small and medium enterprises. The company also provides health and wellness insurance solutions. It sells its products through intermediaries in India. The company was incorporated in 2000 and is based in M...

570 Rectifier House

1st Floor

Naigaum Cross Road

Next to Royal Industrial Estate Wadala

Mumbai,  400031

India

Founded in 2000

3,000 Employees

Phone:

91 22 3047 9800

Fax:

91 22 3047 9450

Key Executives for Reliance General Insurance Company Limited

Chief Executive Officer and Executive Director
Chief Financial Officer
Chief Operating Officer
Chief Marketing Officer of Corporate Business
Chief Underwriting Officer
Compensation as of Fiscal Year 2017.

Reliance General Insurance Company Limited Key Developments

Reliance General Insurance Reports Earnings Results for the Quarter Ended June 30, 2017

Reliance General Insurance reported earnings results for the quarter ended June 30, 2017. For the quarter, INR 12,780 million (USD 197 million) a year on year increase of 41%. Profit after tax rose to INR 440 million (USD 7 million) a year on year increase of 22%.

Board Approved RGI's Listing Plan

The Board of Reliance General Insurance Company Limited has approved the plan of listing independently. The listing is expected to be completed in 2018.

Reliance General Insurance Mulls IPO

Reliance General Insurance Company Limited is planning for an Initial Public Offering (IPO). The group has announced plans for the public offer for its general insurance venture to get it listed in the stock market, which may give the company a valuation of INR 60 billion. Reliance General Insurance also plans to rope in a strategic partner through the stake sale. The board of directors of the company have approved the IPO. Reliance General Insurance is looking to sell 10% through initial public offering in this financial year. It plans to sell 25% in the next three year. “The General Insurance industry is slated to grow with the economy where affluence led consumption will act as its primary growth driver," said Rakesh Jain MD and Chief Executive Officer Reliance General Insurance. "The listing will enable retail investors to participate in this high growth and new wealth creation opportunity.” Reliance General has been for a strategic partner for over last four to five years. It will continue to look at inorganic growth as well as strategic partner post IPO. "We are open to strategic partnerships even post listing," said Jain.

Recent Private Companies Transactions

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Date
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No transactions available in the past 12 months.
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