Reliance Capital to invest Rs 2000 crore in Life Insurance

Reliance Capital is planning to invest over Rs 2,000 crore in its life insurance business in the next few years. Reliance Capital Chairman Mr. Anil Ambani, while addressing the shareholders at the company’s AGM on Monday said that, they are planning to infuse over Rs 2000 crore in life insurance business in the next few years.

It is being observed that Reliance is the only business group to enter solo in life and non life insurance business. Apart from Sahara group and now Reliance, all other private companies have roped a foreign partner. As per present laws, up to 26% foreign investment is allowed in an insurance company.

Reliance’s growth ambitions are reflected by its move of recruiting several lakhs of agents during the current fiscal. The company is using health insurance to build up its retail relationships in the non- life sector.

The company's life insurance business has a pan-India presence with total 16 products. At the end of the year March 2007, Reliance Life Insurance mobilized new premium of Rs 930 crore, showing a growth of 381%. This is the highest growth recorded among life insurance companies.