Reliance General Insurance Company Limited is an Indianinsurance company, a part of Reliance Capital Ltd. of the Reliance Anil Dhirubhai Ambani Group. Reliance General Insurance is amongst the leading general insurance companies in India, with a private sector market share of over 8%. RGI had a distribution network composed of 127 branches and over 12,000 intermediaries at the end of June 2013. The Gross Written Premium for the quarter ended June 30, 2013 was Rs. 706 crore (US$ 126 million). The Gross Written Premium for the year ended March 31, 2013 was Rs. 2,036 crore(US$ 374 million). Reliance General Insurance (RGI) offers insurance solutions for auto, health, home, property, travel, marine, commercial and other speciality products. It is India’s first insurance company to be awarded the ISO 9001:2000 certification across all functions, processes, products and locations in India.
Reliance General was incorporated on 17 August 2000. Subsequently, Reliance General received the license to conduct the business of insurance in India from Insurance Regulatory Development Authority on 23rdOctober 2000. Unlike most competitors, who have foreign partners, Reliance General is promoted solely by Reliance Capital, which is an Indian company. However, media reports suggest Reliance Capital is on the lookout for an eligible partner who can add value to Reliance General. Reliance Capital Chief Executive Officer Sam Ghosh in an interview to Business Standard said may sell stake in its general insurance arm by end of December 2013. Reliance Capital has already sold minor stakes in its life insurance and asset management business to Nippon Life of Japan.